Santa Ana-based First American Corp. said on Thursday that it bought two companies that do real estate appraisals and environmental and engineering work.
First American bought New York-based KTR Newmark Real Estate Services LLC and KTR Newmark Consultants LLC. Terms weren’t disclosed.
The privately held companies are set to be renamed KTR Valuation & Consulting Services LLC and operate as a subsidiary of First American, the country’s second largest title insurer.
Terence Tener, principal director of national services at KTR Newmark Real Estate, will act as chief executive of the new unit.
KTR employs about 60 people with offices in Chicago, Dallas, Los Angeles and Woodbridge, N.J.
The combined companies have provided valuation and appraisal services for the MGM Grand hotel in Las Vegas as well as several prominent New York properties, including the General Motors Building, 40 Wall Street and the Seagram Building.
