Auction.com announced it will be opening a new division following its acquisition of Maximus Advisors from CW Financial Services in December.
The Irvine, Calif.-based online auctioneer also acquired New York-based brokerage Rockwood Real Estate from CW Financial Services, to give it a stronger foothold in the commercial real estate arena.
Auction.com Research will include economists and industry observers who will provide research findings and content to the real estate industry, the company said. Peter Muoio, founder of the research firm New York-based Maximus Advisors, will oversee the new division.
Rockwood and Auction.com had worked together on some big deals before the acquisition, including the auction of 150 distressed commercial loans and properties with a total balance of $1.2 billion, last September.