CCBI, Timcor Buy 1031 Exchange Firm

Commercial Capital Bancorp Inc., a multifamily lender based in Irvine, Calif., and its subsidiary Timcor Exchange Corp. have announced the acquisition of North American Exchange Co., Walnut Creek, Calif., from North American Asset Development Corp. in an all-cash merger transaction.The terms of the deal were not disclosed. NAEC facilitates tax-deferred real estate exchanges under Section 1031 of the Internal Revenue Code. As part of the transaction, Timcor, NAEC, and their affiliated companies entered into a strategic alliance with North American Title Group Inc. under which the companies will engage in a cross-referral of clients and develop business opportunities related to 1031 exchanges and title and escrow orders, CCBI said. North American Title is the parent company of North American Asset Development. CCBI can be found online at http://www.commercialcapital.com, and Timcor, a provider of services to real estate investors that has offices in Los Angeles, Houston, and Miami, can be found at http://www.timcorfinancial.com.