Canada based global commercial real estate services firm Avison Young has completed the acquisition of U.K.-based GVA, real estate advisory firm .
The acquisition establishes Avison Young as the only privately held, Principal-led, global, fullservice commercial real estate services firm. The combination also establishes Avison Young among the top five commercial real estate advisory businesses in the U.K.
As a result of the transaction, Avison Young now has approximately 5,000 real estate professionals in 120 offices in 20 countries.
“This acquisition represents another milestone in our global expansion strategy, and the combination will better position Avison Young to serve our clients across the world,” comments Rose. “Furthermore, the acquisition establishes Avison Young as the global, disruptive challenger brand. We are now 5,000 strong, having nearly doubled our size and ability to provide clients with whatever they need, wherever in the world they need it. In GVA, Avison Young has added a like-minded U.K. real estate leader – a company that brings a partnership culture formed during more than 200 years in business.” Rose continues: “The acquisition increases our scale and presence, expands our global talent pool and reach, and enhances the breadth and balance of our services. Most importantly, the combination increases the resources that we can invest in innovation to keep our clients ahead of the curve.”
Terms of the acquisition were not disclosed. As a result of the merger, Avison Young increases its revenue to 25 times its 2008 level to approximately C$1 billion.