Global real estate services firm Cushman & Wakefield has finalized its acquisition of Inc RE, an Australian capital markets firm specializing in commercial sales, acquisitions, and investment advisory.
With the acquisition, Inc RE will join Cushman & Wakefield’s Capital Markets Australian platform and be part of the company’s global Capital Markets network.
In a statement, Cushman & Wakefield said the acquisition bolsters its capital markets platform in the region and globally.
With the combination of our global Capital Markets professionals and the recent acquisition of Inc RE, Cushman & Wakefield is placed to deliver superior results for clients in key markets across the globe,” said Matthew Bouw, Chief Executive Officer, Asia Pacific at Cushman & Wakefield.
Cushman & Wakefield’s Australian Capital Markets practice will be led by Josh Cullen, Inc RE principal.
The team will comprise 14 brokers focused on institutional sales, international investments, acquisitions and investment advisory. Cullen will be supported by Rick Butler and leading brokers Steve Kearney and Mark Hansen.
“The acquisition complements our local Capital Markets platform and creates momentum for us in the Capital Markets landscape nationally. It provides us with opportunities to accelerate the growth of the company’s broader commercial real estate business, particularly in Asset Services and Agency Leasing,” James Patterson, Chief Executive, Australia and New Zealand said.
In addition to Josh Cullen, Rick Butler, Steve Kearney and Mark Hansen, Claire Zouroudis, Charles Long and Lisa Lee also will join the Cushman & Wakefield Capital Markets practice based in Sydney. Inc RE’s total transactions completed in the span of 18 months total $2.25 billion.
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.