Commercial Finance Specialists

Capita Symonds has acquired NB Real Estate to expand its capabilities.

Capita Symonds has announced the acquisition of commercial property management firm NB Real Estate for £10 million on a cash-free, debt-free basis.

Under the deal, Capita Symonds will enjoy a unique full service proposition across the real estate lifecycle, adding front-end advisory and acquisition capabilities to the company's existing property development, project design and management offerings.

Mark Norris, executive director of Capita Symonds, said the NB Real Estate business is "highly complementary" to Capita and the acquisition provides a platform to take advantage of opportunities in the property investment market.

"The pressure on public sector spending and the wider UK economy will continue to drive organisations to consider more innovative and cost-efficient ways of managing their property assets," he added.

Capita Symonds recently announced that it will be sending a number of speakers to the forthcoming Ecobuild conference at Earl's Court in March, including director of Capita Architecture Richard Woods.