Acquisition accelerates expansion of Australian agency platform
SYDNEY--(BUSINESS WIRE)--
Cushman & Wakefield, a leading global real estate services firm,
recently announced the acquisition of Knight Frank’s Sydney Valuations
business, which comprises 24 valuation professionals. The team joins
Cushman & Wakefield’s Australian Valuations platform as part of the
company’s global Valuations network that has executed valuations for
assets in excess of US$3.7 trillion last year.
“I am delighted to welcome David Castles, Matthew Russell and the team
to Cushman & Wakefield. Today’s announcement bolsters our position as a
leading Valuations practice globally and highlights the power of our
brand and culture to attract the best talent. With the combination of
our 2,000+ global valuations professionals and this acquisition, Cushman
& Wakefield is well placed to provide comprehensive solutions for
clients in any market across the globe,” said Matthew Bouw, Chief
Executive Officer, Asia Pacific at Cushman & Wakefield.
Castles and Russell now lead Cushman & Wakefield’s national Valuations
practice across Australia. This highly-respected team, which sits on all
four major Australian bank panels and has executed valuations for assets
totaling more than US$65 billion in the last financial year, has deep
and rich experience across a range of sectors including commercial,
industrial, residential, banking, government, student accommodation and
professional services.
Commenting on this acquisition, James Patterson, Cushman & Wakefield’s
Chief Executive, Australia and New Zealand said: “This acquisition
complements our local Valuations platform and creates momentum for us in
the Valuations landscape nationally. It provides us with opportunities
to accelerate the growth of the company’s broader commercial real estate
business, which will in turn positively impact our clients and people.
It also complements our occupier business, which is one of the strongest
in the country.”
Castles, newly appointed Joint Head of National Valuations, Cushman &
Wakefield, Australia said, “We saw an opportunity to leverage Cushman &
Wakefield’s global brand, alongside a truly national platform to create
additional value for our clients and career opportunities for our
people.”
This acquisition, pending Foreign Investment Review Board (FIRB)
approval, follows the recent acquisition of Capital Markets firm Inc RE
in July 2018, bolstering Cushman & Wakefield’s transactional business in
Australia and New Zealand.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services
firm that delivers exceptional value by putting ideas into action for
real estate occupiers and owners. Cushman & Wakefield is among the
largest real estate services firms with 48,000 employees in
approximately 400 offices and 70 countries. In 2017, the firm had
revenue of $6.9 billion across core services of property, facilities and
project management, leasing, capital markets, valuation and other
services. To learn more, visit www.cushmanwakefield.com
or follow @CushWake
on Twitter.
Source: Cushman & Wakefield
View source version on businesswire.com:
https://www.businesswire.com/news/home/20180913005663/en/
Six Degrees
Fergus Ross
Director
+61 420 980 448
fergus.ross@6-degrees.com.au
Source: Cushman & Wakefield