Koll Co. Acquires Property Division of Weyerhaeuser

The Koll Co. of Newport Beach acquired the income property division of Weyerhaeuser Mortgage Co., creating a new subsidiary called Koll Realty Advisers.

The new subsidiary will retain all 50 division employees of Weyerhaeuser Mortgage’s Woodland Hills office.

The subsidiary will manage, advise and underwrite real estate investments for Weyerhaeuser Co. of Tacoma, Wash., its Republic Federal Savings & Loan subsidiary and a real estate investment trust that Weyerhaeuser sponsored.

The Koll subsidiary also will seek other investment properties to manage. So far, Weyerhaeuser, the trust and the S&L; have a total of $420 million in assets for Koll Realty Advisers to manage.

The Koll subsidiary’s headquarters will be moved to Newport Beach, though most of the staff will remain in Woodland Hills, a Koll spokesman said.

Other terms of the deal were not disclosed. Koll, a developer and manager of commercial real estate, has a $4-billion investment portfolio.