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DALLAS—H. Ross Ford III, president and CEO of TCN Worldwide Real Estate Services, and David Greene, chairman of the TCN Worldwide Board of Directors, together with Patrick Morrissey, chairman of GVA Worldwide, reveal to GlobeSt.com that the international real estate advisors have agreed to create an alliance that extends the scope and capability of their respective organizations into key strategic markets.
"We have been in detailed discussions with TCN for some time," explains Morrissey. "Our long standing ambition to establish a strategic alliance with a leading US real estate practice has been fulfilled."
He continues that "We have signed a memorandum of understanding with TCN. This agreement will form a hugely significant step in our plans to expand and strengthen not just our transatlantic ties but our wider cross-border capability throughout the GVA Worldwide community. As the markets continue to strengthen and the flows of capital continue our access to and representation in the US becomes increasingly important for our clients."
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GVA Worldwide is an international network of independent commercial real estate companies working with a wide range of clients including occupiers, multi-national corporations, major space users, developers, owners, institutions, lenders and investors. Through its affiliated member firms, partners can harness the expertise of 5,000 professionals in over 120 offices across 25 countries worldwide.
The alliance with TCN Worldwide—a consortium of independent commercial real estate firms with approximately $38.8 billion in annual transactions and over 80 million square feet of space under management—will facilitate a range of services to both groups' clients, including: transactions, strategic planning, market and site analysis, financial and fund structuring, lease consultancy, pre-acquisition due-diligence, valuation, asset, property and facilities management.
H. Ross Ford III, who notes that TCN serves more than 200 markets across the world and maintains an affiliate firm in nearly every major city in America, tells GlobeSt.com that "Over the past 24 months, TCN Worldwide has benefited from significant growth both here in North America and also on a broader global basis."
He tells us that "Domestic additions such as Citadel Partners in Dallas, Texas—a firm that specializes in working with corporate clients with multi-market needs—highlighted for us the need to expand the international coverage we offered our members and their clients. New member firms in Hong Kong, Mexico City, and Ottawa provided substantive expansion in this direction, but we knew that an alliance like the one we just established with GVA would help our members service their clients even more effectively. We approached GVA Worldwide late in 2014 and formal discussions were initiated over the summer. Working with Patrick Morrissey, the Chairman of GVA Worldwide, we were able to identify the synergies between the two organizations and craft an agreement that allows both groups to access the necessary resources to serve our clients and grow our business."
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Greene added that "A strategic alliance between TCN Worldwide and GVA Worldwide increases our collective reach, strengthens our client base, and invigorates our individual firms. The new worldwide alliance now provides every individual in both affiliate organizations the chance to better serve their clients and prospects."
He added, "to be able to significantly expand our reach beyond the 200 markets that we currently serve through our independent affiliates is a distinct opportunity. This is an important alliance for TCN and all of our affiliates throughout America, Canada and the World and in particular, for MHP as the NYC affiliate for TCN and as a whole, we will continue to provide 'best in class' client services with sincerity and transparency."
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
