Cushman & Wakefield, a leading global real estate services firm, has entered into an exclusive affiliate arrangement across sub-Saharan Africa with Excellerate Property Services, the holding company behind leading brands including property and facilities manager JHI, to offer a comprehensive range of real estate services across the region.
The new venture, which will be branded Cushman & Wakefield Excellerate, provides an integrated platform serving the sub-Saharan African continent from an established network of 32 offices in 11 sub-Saharan countries. These include 22 offices across South Africa, the largest African commercial property market, as well as strategically important locations including Ghana, Kenya, Nigeria and Zambia.
Excellerate Property Services has over 13,000 employees, more than $450m in transaction volume, $142m revenues, 90m sq ft of assets under management, 30m sq ft of facilities under management and operates under brands including JHI and Excellerate Facility Management.
Staff from former DTZ affiliate, DTZ Leadenhall, have also joined Cushman & Wakefield Excellerate. The legacy Cushman & Wakefield alliance partner, ProAfrica, will follow its own initiatives outside of the new Cushman & Wakefield affiliate platform.
John Forrester, Chief Executive EMEA, Cushman & Wakefield, said: “This is a game-changing development for us in Africa that extends our delivery of all service lines across the sub-Saharan continent, via a single provider. First and foremost as a firm we are responsive to our clients’ needs and this partnership provides them with a first class, transparent, in-country platform across the region. We will continue strengthening our capabilities across EMEA to ensure we have the best people and platform to deliver outstanding results for our clients.”
Marna van de Walt, CEO of Excellerate Property Services, said: “We are very excited about the potential of Cushman & Wakefield Excellerate which provides our existing clients with integrated access to a global platform. We will remain fully focused on our strengths which are an energetic and entrepreneurial approach and providing clients with value adding advice that comes from a deep understanding of local markets across Africa.”
Jonathan Turner, Senior Director and Cushman & Wakefield relationship manager for Africa, said: “Many multinational corporates we work with are already active in Africa or looking to enter a growing market with major opportunities in the telecoms, banking, technology, energy and consumer goods sectors in particular.
“Our global strength, combined with Excellerate Property Services’ in-region expertise, trusted brand and client base creates a market-leading sub-Saharan Africa platform, providing clients with the scale, flexibility and strong corporate governance expected by global corporations. Cushman & Wakefield Excellerate also lays the foundation for further growth in Africa by increasing Cushman & Wakefield’s capability to service both international and intraregional requirements, for occupiers and investors alike.
“We thank ProAfrica for their years of support and service on behalf of clients and we are working with them in managing the associated run-off of their activity on our behalf.”
In addition to Cushman & Wakefield’s 5,000 people in 40 countries in EMEA, the firm’s strong relationships across the region with affiliates extends delivery into markets where Cushman & Wakefield does not currently have a wholly owned presence. EMEA clients include nine of the top 20 Forbes global brands and 82% of the top 50 cross-border investors.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About Cushman & Wakefield Excellerate
Cushman & Wakefield Excellerate combines the global platform of Cushman & Wakefield with the existing in-region business of Excellerate Property Services, which includes brands such as JHI and Excellerate Facility Management. The alliance will initially operate across sub-Saharan Africa, currently with 32 offices in 11 countries: Botswana; DRC; Ghana; Kenya; Lesotho; Namibia; Nigeria; South Africa; Swaziland; Zambia; and Zimbabwe. Legal entities are established in a further seven countries: Cameroon; Cote d’Ivoire; Gabon; Senegal; Tanzania; Uganda; and Morocco (in process).
Cushman & Wakefield Excellerate will provide a comprehensive range of occupier and investor services, delivering core management and facilities services, project management, transactions, valuation and advisory services including strategic consulting, market surveys and development feasibility.
Excellerate Property Services manages approximately $10 billion of asset value encompassing 90m sq ft of assets, 30m sq ft of facilities and 18,000 leases, along with transaction volumes of $450m. It is the prime retail asset manager in this region and, in South Africa, is currently rated a Level 3 BBBEE contributing group, including significant black ownership credentials. The Excellerate Property Services group also includes a significant shareholding in Profica, one of Africa’s leading project management and construction management companies with offices in South Africa (HQ), Mauritius, Ghana, Kenya and Nigeria, along with associates in Mozambique, Rwanda, Uganda, Zambia and Zimbabwe.
The client base includes multinational corporates, public sector organisations, developers, funds, institutions and private investors.