The FINANCIAL -- Cushman & Wakefield has signed an exclusive arrangement with RED as its affiliate in Denmark.
The Copenhagen-based firm, now known as Cushman & Wakefield | RED, provides a wide range of key property services including capital markets, retail, office letting, valuation & research as well as occupier services. The firm, established in 2004, has a staff of 33 with clients including public and institutional players as well as foreign funds.
The formal affiliate appointment follows the 2015 global merger of Cushman & Wakefield and DTZ, according to Cushman & Wakefield.
Nicholas Thurø, Managing Director at Cushman & Wakefield | RED, said: “At RED we are very pleased with our agreement with Cushman & Wakefield. Over the last six to seven years, Denmark has gone from being a national to an international real estate market. In the first half of 2017, 61% of the transactions in Denmark were with a foreign investor as the buyer and therefore, a strong international partner like Cushman & Wakefield is crucial to us.”
Cushman & Wakefield has a particularly strong presence in the Nordics, coordinated from Sweden. In the Euromoney Real Estate Awards 2017 – as in 2016 – Cushman & Wakefield | RED was ranked first in all four Real Estate categories in Denmark: Best Overall Advisor, Best Advisor for Valuation, Best Advisor for Agency & Letting and as Best Advisor for Research. In addition, Euromoney ranked Cushman & Wakefield as Best Advisor in all four categories above in the Nordic and Baltic region.
The exclusive affiliation follows similar agreements announced in Finland and Norway earlier this year, creating Cushman & Wakefield Finland Oy and Cushman & Wakefield Realkapital respectively.
Agneta Jacobsson, Head of Sweden and the Nordics for Cushman & Wakefield, said: “Cushman & Wakefield is delighted to have formalised our longstanding relationship with RED and to have completed our Nordic offering. This is great news for our current and future clients and together we will pursue further growth throughout the region.”
John Forrester, Chief Executive EMEA, Cushman & Wakefield, said: “Our strong and long-lasting relationships with affiliates across EMEA extends delivery into markets where Cushman & Wakefield does not currently have a wholly-owned presence. This benefits both local and global clients who gain access to our global network and local knowledge respectively.”
Cushman & Wakefield is among the largest commercial real estate services firms top three global real estate services firm, with some 45,000 employees in more than 70 countries and revenue of over $6 billion.