Schonbraun McCann sells for $125M

Schonbraun McCann Group, a private New York-based real estate and finance consulting firm, has been sold for $125 million in cash and stock to FTI Consulting, a global business advisory firm based in Baltimore. Managing Partner Bruce Schonbraun founded SMG in 1973. The firm advised SL Green on its $6 billion acquisition of Reckson Associates Realty Corp. FTI will acquire 11 SMG  senior managing directors and a staff of about 170 workers in Midtown, New Jersey and Florida. SMG will operate as FTI’s real estate division and do business under its own name.

“We think now is a particularly opportune time to join practices with SMG,” said Jack Dunn, FTI’s president and CEO, in a statement. “The precipitous decline in liquidity in the global financial system is creating stress in the real estate market and driving demand for conflict resolution, restructuring and strategic counsel from even the strongest players.” TRD