Business News
LandAmerica Expands Commercial Real Estate Valuation Capabilities with Aaron & Wright Acquisition
2008-08-05 10:43:00
LandAmerica Expands Commercial Real Estate Valuation Capabilities with Aaron & Wright Acquisition
RICHMOND, Va., Aug. 5 /EMWNews/ -- LandAmerica Financial Group, Inc. (NYSE: LFG), a leading provider of real estate transaction services, announces through its LandAmerica Valuation Corporation (LVC) subsidiary the acquisition of Aaron & Wright, Incorporated, a commercial real estate valuation company based in Houston, Texas. Founded in 1990, Aaron & Wright provides commercial real estate valuation services throughout the United States. The company has significant expertise in the valuation of religious facilities. The Aaron & Wright purchase, which follows on the heals of last years acquisition of the Dallas-based appraisal firm Butler Burgher, Inc., is the latest move in LVC's targeted growth strategy. With these acquisition, LVC gains greater geographic coverage and significant customer relationships in new market niches. "This is a win-win for both companies and our customers," said John Wright, a principal and founder of Aaron & Wright. "The national coverage afforded by LandAmerica will allow us to better serve the valuation needs of our customers in the commercial real estate industry." "We are excited about Aaron & Wright joining the LandAmerica family," added Chuck Victor, Senior Vice President -- Commercial Services. "With their commitment to giving customers superior service, this acquisition is an important step in making LandAmerica the premier provider of real estate transaction services." In 2004, LandAmerica Financial Group, through its LandAmerica Assessment Corporation subsidiary, acquired Aaron & Wright Technical Services, Incorporated, creating one of the nation's largest environmental site assessment and property condition assessment firms in the nation. "Based on our experience in combining the assessments companies, we are convinced that joining LandAmerica is the best thing for Aaron & Wright's clients and appraisers," stated Martin H. Aaron, the other principal and founder of the firm.
About LandAmerica Financial Group, Inc. LandAmerica Financial Group, Inc. is a leading provider of real estate transaction services with over 650 offices and a network of more than 8,500 active agents. LandAmerica serves agent, residential, commercial and lender customers throughout the United States, Mexico, Canada, the Caribbean, Latin America, Europe and Asia. LandAmerica is recognized as number one in the mortgage services industry on Fortune's(R) 2007 and 2008 lists of America's Most Admired Companies.
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