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
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Source: Cushman & Wakefield