New York-based Kensington Vanguard buys Boulder firm.
KV buys CORE Title.
KV has closed and serviced more than $20 billion in loans in New York City.
A New York City based company that has serviced and closed more than $20 billions in high-profile buildings in Manhattan, has purchased a Boulder-based title company.
Kensington Vanguard National Land Services, one of the largest independent full-service national title insurance and settlement agencies in the U.S., on Tuesday announced it has purchased CORE Title.
The purchase for an undisclosed price expands Kensington Vanguard’s presence to the Western U.S.
KV has been a big player on the East Coast, particularly in New York City.
For example, it serviced and closed more than $2.2 billion in loans, combined, for 5 Times Square and 4 Times Square, according to a listing of its notable transactions on its web page. It listed about $22.6 billion for about 60 transactions it handled in New York City alone. In New York, KV closed and serviced loans for office, residential and retail buildings, as well as hotels.
The acquisition of CORE also builds upon the KV’s diverse clientele, the company said. Its clients include investors, developers, attorneys, Realtors and lenders.
The existing offices in Boulder and Longmont will be maintained. In addition, it plans to launch a new office in Fort Collins.
Going forward the business will operate under the Kensington Vanguard brand.
Anthony Knight, Founder of CORE Title, has been named Executive Vice President – Rocky Mountain Region and will oversee KV’s operations in the market.
Knight worked at First American for more than 10 years in business development and management roles, before founding CORE.
Knight was thrilled to join KV.
“This partnership with Kensington Vanguard is an exciting opportunity for the CORE team in Colorado,” Knight said. “Our clients have come to expect the best-in-class service, knowledge and technology.”
“I am confident that, as we integrate into KV, we will have the capability to expand our service options even farther, while retaining excellence in delivery,” he said.
“Now reinforced by dynamic resources, a solid foundation and a deeply knowledgeable regulatory team, we are poised to execute on KV’s market development strategy,” he said.
Colorado’s strong economy was a driving force in Kensington Vanguard’s decision to plant a flag in the state.
“Given excellent fundamentals, including strong population growth, a diverse economy and a robust real estate market, we’ve been highly focused on entering the Colorado market,” said Brian Cooper, Co-CEO of KV.
“With the consummation of this acquisition, we’re excited to now have the CORE Title team leading our efforts on the ground,” Cooper continued.
He said the CORE management team has “built a firm with a broad client base and reputation for excellent service in the markets they’ve served.”
“Now with the support of KV’s infrastructure, resources, national platform and credibility in the commercial space, the growth opportunity here is very significant,” Cooper added.
KV received a private equity investment led by Red Oak Partners in 2012.
It positioned itself to be a “consolidator “in the title insurance market through financial strength, leadership in both the commercial and residential markets and a national platform.
KV operates three divisions:
- The Commercial Division handles some of the the largest and most complex commercial real estate transactions in the marketplace, according to the company. It services a prominent and diversified clientele. Clients include leading property owners, developers, real estate investment trusts, private equity groups, law firms, private investors and institutional lenders. In New York, for example, it closed and is serving loans ranging in size from $94 million to $1.65 billion, according to its webpage.
- The Residential Division provides title and settlement services residential refinances driven by both regional and national mortgage lenders. KV is a member of vendor lists for leading lenders. It uses the latest in technology.
- 1031 Exchange Services. This division supports clients that defer realized gains when buying and selling income-producing properties.
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