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Sunday, April 20, 2008CIRI acquires interest in major Alaska real estate firm
Cook Inlet Region Inc. acquired a majority interest in Pacific Tower Properties Inc., one of Alaska's largest commercial real estate firms. Pacific Towers Properties is a full-service commercial real estate brokerage, offering professional brokerage services for buyers and sellers, valuation analysis, development consulting, property tax appeal and consulting services. CIRI completed the transaction on Feb. 1, the company said in its March shareholder newsletter. Pacific Towers Properties is certified as a minority business enterprise by the National Minority Supplier Development Council. PTP Management Inc., a subsidiary of Pacific Tower Properties, provides commercial property management, construction management and consulting services. CIRI officials said that they would begin to utilize Pacific Tower Properties' property management capabilities immediately for CIRI's existing office buildings. In the future the firm's services will be used for planned commercial real estate developments in Alaska and possibly the Lower 48.