Fred Schmidt Promoted to President and Chief Operating Officer of Coldwell Banker Commercial Affiliates

February 22, 2010 // Franchising.com // ]PARSIPPANY, N.J., -- Coldwell Banker Commercial Affiliates LLC, a leading commercial real estate franchise organization, today announced the promotion of Fred Schmidt, who will now serve as the company's president and chief operating officer. Schmidt succeeds Rick Davidson, who had led the Coldwell Banker Commercial® brand since May 2006. In a separate announcement today, Davidson was appointed as president and chief executive officer of Century 21 Real Estate LLC. Both franchise brands are subsidiaries of Realogy Corporation, a leading global provider of real estate and relocation services. The leadership transition will begin immediately.

"In Fred Schmidt, we have a proven commercial real estate professional to lead the Coldwell Banker Commercial organization," said Alex Perriello, president and chief executive officer of the Realogy Franchise Group. "Fred has a demonstrated record of success in building relationships with and developing significant new business opportunities on behalf of our commercial broker network. I am especially pleased that we were able to make these executive appointments from within Realogy, which speaks to the high level of managerial talent that exists across our organization."

Schmidt is a veteran commercial real estate professional with more than 30 years of experience in the industry, and has been with Coldwell Banker Commercial for the past seven years. With this promotion, Schmidt will take on the leadership of this growing franchise system that has approximately 200 offices and 2,300 commercial real estate professionals operating in 20 countries worldwide, including recent key additions in the New York City and Atlanta markets. He will now report to Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate LLC. In addition, Schmidt also will serve as president of ONCOR International LLC, a global commercial real estate referral network comprised of more than 50 independently owned brokerage firms.

Since late 2008, Schmidt has served as senior vice president of the Realogy Global Client Solutions group. In this role, he led the proactive development of client relationships and sourcing of business development opportunities on behalf of Realogy's commercial real estate entities. Additionally, he was responsible for overseeing the specialty groups including corporate services, hospitality, multi-family, property management, retail, and Real Estate Owned (REO).

Schmidt joined Coldwell Banker Commercial in 2003 as vice president of business development, and two years later was promoted to senior vice president of business development and operations. Prior to Coldwell Banker Commercial, he was first vice president of corporate services for CB Richard Ellis and was responsible for providing a broad base of advisory services to public and private sector clients requiring multi-market, multi-project real estate services. Schmidt's 21-year tenure with CBRE included both sales and management roles in the Central New Jersey and Hartford, Conn., markets. He later served as managing director for United Systems Integrators Corporation, where he was responsible for the company's corporate real estate services and new business development in New Jersey, Pennsylvania, Delaware and the Ohio Valley.

Schmidt, who earned his bachelor's degree from Seton Hall University, is a member of CoreNet Global, the leading professional association for the corporate real estate industry. Schmidt also is active in his community, and currently serves as a member of the Board of Directors for the Summit (N.J.) YMCA.

About Coldwell Banker Commercial Affiliates LLC

Coldwell Banker Commercial Affiliates is one of the leading franchisors of commercial real estate services through the Coldwell Banker Commercial® brand. Coldwell Banker Commercial is a registered trademark licensed to Coldwell Banker Real Estate LLC. Through its independently owned and operated offices, the Coldwell Banker Commercial network is a premier provider of real estate services and is a leader in the commercial real estate industry. Coldwell Banker Commercial currently has more than 200 offices and 2,300 commercial real estate professionals operating in 20 countries worldwide. The Coldwell Banker Commercial network of brokers serves the needs of owners and occupiers in the leasing, acquisition, disposition, structured finance and management of all property types. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, the world's largest real estate franchisor.

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