Aamresco Inc. said its commercial mortgage unit has bought mortgage banker PNS Realty Partners.
The price of the deal was not disclosed, but Aamresco paid with a combination of cash and stock, a spokeswoman said.
The move will expand the geographic presence of Holliday Fenoglio Fowler, the Aamresco unit, into the Midwest, the company said. It will increase its servicing portfolio to $7.3 billion.
PNS Realty Partners has four offices in Kentucky and Indiana. Over the past 12 years, management of PNS has closed more than $7 billion of commercial real estate transactions. The company originates and services commercial loans, and provides brokerage, consulting, and lease representation services.
Holliday Fenoglio Fowler closed more than 800 commercial real estate transactions totaling $7.8 billion in 1997.