Cushman & Wakefield Becomes Undisputed Market Leader in the Netherlands
Cushman & Wakefield, a leading global real estate services firm, announces today the acquisition of the entire interest in real estate advisor DTZ Zadelhoff in the Netherlands to create the new market leader in commercial real estate services. DTZ Zadelhoff is now part of the Cushman & Wakefield group. The acquisition follows the global merger of Cushman & Wakefield and DTZ in September 2015.
Cushman & Wakefield Netherlands will be headed up by Jeroen Lokerse. Jeroen de Bruijn, Chairman of the Board at DTZ Zadelhoff, will lead the integration of the two businesses and is appointed Head of Integration Netherlands. The leadership team for the combined business will be announced shortly.
The combined firm employs some 575 people working on behalf of institutional, corporate and private clients.
Jeroen Lokerse, Head of the Netherlands, Cushman & Wakefield said: “Today marks a significant moment for our business as well as for our industry; this acquisition is unmatched in the real estate sector. Being part of this transformational move will create significant opportunities for our clients as well as our people. We will offer clients a broader range of high quality services across all service lines and sectors both locally and globally. As a people-driven business, it gives me great pleasure to welcome our new colleagues. Alone we were good, together we are great and I am excited about what we are going to achieve together for clients.”
DTZ Zadelhoff operated as a partnership with 14 partners – of which thirteen are individuals, participating through legal entities with limited liability. Eleven of the individuals are becoming employees of Cushman & Wakefield. Two partners, Frans van Hoeken and Loek van der Kroft, will continue their career outside the organisation.
Jeroen de Bruijn, Head of Integration Netherlands, Cushman & Wakefield said: “This acquisition is excellent news for our clients and our people. By combining DTZ Zadelhoff´s strong regional presence and existing client relationships with Cushman & Wakefield’s enhanced network of international investors and occupiers, we will transform the commercial real estate market in the Netherlands. The acquisition is testament to our achievements to date, thanks to our committed team and the trust of our clients. Going forward we are committed to ensuring a smooth integration of the two firms to drive maximum advantage for our clients and new opportunities for our teams.”
John Forrester, Chief Executive EMEA, Cushman & Wakefield, said: “This acquisition underlines our strategy to grow the scale and performance of our very substantial EMEA business. It also highlights our continuing confidence in the Netherlands real estate markets. I am delighted that we have realised our ambition to be the undisputed leader in this market.”
In EMEA, Cushman & Wakefield has 5,000 employees in 40 countries. It is a leading commercial real estate services firm in every major European metropolitan economy, number one in the Dutch real estate market, leader in capital markets, occupier services and all major commercial real estate sectors. Its clients include nine of the top 20 Forbes global brands and 82% of the top 50 cross-border investors.
Pic: Jeroen Lokerse (l) & Jeroen de Bruijn (r).