Industry consolidation is “driven almost entirely by clients,” says Maloney.
CHICAGO—Cushman & Wakefield on Tuesday announced significant acquisitions on both sides of the US/Canada border. The firm has acquired Toronto-based 20 VIC Management Inc., greatly bolstering Cushman & Wakefield’s capabilities in Canada, while stateside it has entered into an agreement with NorthMarq Cos., a private holding company of the Pohlad family of Minneapolis, to acquire Cushman & Wakefield NorthMarq (CWN) in Minnesota and Cushman & Wakefield Commerce (CWC) operations in Nevada, Utah and Washington.
“20 VIC is the foundation for our asset services platform in Canada,” Marla Maloney, president of Cushman & Wakefield Americas Asset Services, tells GlobeSt.com. “The merger really increases our tool set for our client offering, specifically our investor clients.”