Columbus, Ohio (PRWEB) July 13, 2012
Gryphon Realty primarily lists and sells distressed assets in insolvency situations while Borror has had more of a development and property management focus. Recent additions to the Borror group have included 2 seasoned commercial sales agents and one veteran sales assistant as the initial effort to expand the sales practice. The merger by Gryphon Realty adds another 4 sales agents including 2 auctioneers. The 6 professionals will be the cornerstone of a new boutique brokerage that will be capped at 15 agents and brokers. Over the next 2-3 months, the group is looking to hire one additional commercial agent, one residential agent and two additional administrative staff.
“We began working with Borror Properties as a partner for property management services and, over time, the partners realized that there were additional opportunities for everyone if we merged different parts of our business models” said Rich Kruse, President of Gryphon USA, Ltd.
“We look forward to furthering our partnership with Gryphon and growing our brokerage business at the same time. Together, Borror and Gryphon can provide complete coverage for every real estate need,” added Doug Borror, CEO and the Broker for Borror Properties Real Estate.
Gryphon Asset Management, Gryphon Auction Group and Belhorn Auctions will remain outside of the partnership and subsidiaries of Gryphon USA, Ltd.
Gryphon USA, Ltd. is a multi-faceted asset management and liquidation firm focusing on the operations and dissolution of single assets through and including entire companies. Gryphon maintains a receivership and asset management group (Gryphon Asset Management), commercial auction practice (Gryphon Auction Group), art, antique and pottery auction group (Belhorn Auctions). Real estate sales transactions and property management is undertaken through partner firm, Borror Properties.
Melissa M. Kruse oversees the day to day operations of the parent company, Gryphon USA, Ltd. while Gryphon Asset Management operations are managed by Richard F. Kruse. Auction operations are directed by Peter Gehres. Lori Steiner manages operations for Borror Properties.