CW Financial Services, best known in the city as the parent company of CWCapital Asset Management, will acquire Manhattan-based boutique investment bank Rockwood Real Estate Advisors, sources told Crain’s. Formerly known as DTZ Rockwood, the firm provides real estate advisory services, portfolio brokerage and debt and equity, according to its website. As The Real Deal previously reported, Rockwood filed for Chapter 11 bankruptcy in 2009, two years after advising Mann Realty Associates on its $426 million purchase of the Apthorp. Over the last three years the firm has been involved in about $20 billion worth of real estate assets. Crain’s said the move helps CW expand its reach while providing the cash needed to help Rockwood become more competitive. The deal is not final and the terms remain undisclosed. [more]

Midtown-based real estate investment banking firm DTZ Rockwood, which provided advisory services for the purchase of the troubled Apthorp apartment building, filed for Chapter 11 bankruptcy protection yesterday in Manhattan federal court. The firm claimed it owes between 50 and 99 creditors’ debts of $79 million and assets of $1.8 million, according to bankruptcy court filings entered yesterday. DTZ Rockwood provided advisory services for Mann Realty Associates’ $426 million purchase of the 136-unit luxury rental building Apthorp, at 390 West End Avenue, in 2007. The building is now being converted to residential condominiums, and is beset by lawsuits. [more]