CUSHMAN & WAKEFIELD ACQUIRES COGEST RETAIL

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Cushman & Wakefield announced the acquisition of the entire share capital of Cogest Retail, a leading retail asset services and leasing firm with a portfolio of 51 shopping centres and retail parks across Italy and more than 1.5 million sq m of floor space under management.

This acquisition of Cogest Retail will have an immediate, positive impact on Cushman & Wakefield’s southern European business. The addition of 150 professionals doubles the size of its Italian practice and confirms a best-in-class service to clients.

Cogest Retail will be integrated into Cushman & Wakefield’s EMEA Asset Services business, complementing a platform which in Italy already boasts a strong presence in the office and logistics sectors. The consolidated business will manage circa 3.5 million sq m of floor space in Italy.

Joachim Sandberg, Head of Italy and the Southern Europe region at Cushman & Wakefield, said: “Today’s announcement is a very significant moment for our Italian business. The benefits for employees and clients, as well as the commercial potential, made this a very compelling step to take. Our business is driven first and foremost by our people so it gives me great pleasure to welcome 150 new professionals to the global Cushman & Wakefield team and I’m looking forward to working with them.”

Carmen Chieregato, who will continue to work as Managing Director of Cogest Retail in the newly-expanded business, said: “We are very excited about this next phase of our development. For over 20 years Cogest has recorded uninterrupted growth, developing exclusive tools and investing in quality and research. This acquisition gives us the opportunity to combine our already successful business model with Cushman & Wakefield’s experience and resources. It also acknowledges our achievements to date thanks to our committed team and the trust of our clients.”

John Forrester, EMEA Chief Executive of Cushman & Wakefield, said: “The acquisition of Cogest Retail is consistent with our commitment to profitably grow the scale and performance of our substantial EMEA business. We will continue to strengthen our capabilities across the region to ensure we have the best people and platform to deliver outstanding results for our clients.”

In EMEA, Cushman & Wakefield has 5,000 employees in 40 countries. It is a top three commercial property firm in every major European metropolitan economy, a leader in capital markets, occupier services and all major commercial real estate sectors. Its clients include nine of the top 20 Forbes global brands and 82% of the top 50 cross-border investors.