Cushman & Wakefield Completes Americas Platform
6 Feb, 2007, Sao Paulo
Global Real Estate leader acquires remaining 20 percent ownership interest in Cushman & Wakefield South America from Semco Group
New York, Feb. 6, 2007---In a strategic move that completes its Americas platform and enhances global services to clients, Cushman & Wakefield announced today it has acquired the ownership interest of a longtime partner to assume full control of Cushman & Wakefield South America.
Cushman & Wakefield, which already owned 80 percent of its South American operations,
purchased the remaining 20 percent ownership interest in the firm's South American operations
from Sao Paulo-based Semco Group. Cushman & Wakefield and Semco had been in a partnership
for the past 12 years.
"This reflects on our strategy to achieve 50 percent of our revenues from outside the U.S., through selective but aggressive acquisitions where the market and cultural fit is strong," said Cushman & Wakefield President and CEO Bruce Mosler.
In the past two years, Cushman & Wakefield has fully acquired its market-leading Canada and Russia operations, and assumed a 100 percent interest in its powerful Mexico operations.
The firm's objective with this acquisition is to increase local investments and to strengthen its presence in South America, at a time when an increasing number of corporate clients have requirements in the region.
"This is a key move to fully integrate our service platform throughout North and South America," said Tony Marano, CEO, Americas. "From an outright ownership position, we will seek to accelerate our expansion and delivery of service offerings to meet the diverse needs of our clients."
In the South American region, Cushman & Wakefield manages a 70 million square foot
portfolio of corporate and industrial properties, with assets valued around R$10 billion and
negotiated transactions involving assets of more than R$500 million last year.
"I am confident that Cushman & Wakefield will continue to be a powerhouse in the region," said Ricardo Semler, CEO of SEMCO and a member of the board of directors of Cushman & Wakefield South America.
Cushman & Wakefield is the world?s preeminent real estate services firm. Founded in 1917, the firm has 197 offices in 55 countries around the globe, and 11,000 talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133, or visit the firm's Web site at www.cushmanwakefield.com.