The operations of Broll and Cushman & Wakefield will be combined to make one large real estate services entity.
Real estate services companies Broll Property Group and Cushman & Wakefield have entered into an exclusive affiliate arrangement, which is set to provide their clients with an integrated platform covering the entire sub-Saharan Africa region.
According to a statement released on Thursday, the exclusive affiliate agreement represents a partnership between Broll’s Occupier Services business and Cushman & Wakefield's global reach. This will result in the formation of a new and rebranded entity called Cushman & Wakefield Broll.
The partnership will allow for the optimisation of Broll’s expansive knowledge of African markets with the expertise of a global player like Cushman & Wakefield.
"This partnership provides an important distinction for users of space, who will benefit from the Cushman & Wakefield Broll dedicated focus on occupier clients," said Ken Gerber, the MD of Broll Occupier Services, in a statement.
The combined entity will cover end-to-end corporate real estate solutions for businesses across all sectors, including advisory and transactions, workplace consulting, project management, estate management, data management, technology, and finance, as well as treasury services.
The entity will also have significant scale. Underscoring the scale potential is that Broll Occupier Services has 150 staff members and the division serves seven regional hubs across Africa. Meanwhile Cushman & Wakefield has 5,500 staff members across 133 offices in Europe, the Middle East and Africa (EMEA).
Broll Property Group CEO Malcolm Horne said he is excited about the new Cushman & Wakefield Broll entity.
“Our progressive culture of innovation, service excellence and longstanding client relationships provides a natural synergy with Cushman & Wakefield. Broll’s focus will always be on providing value adding advice that comes from a deep understanding of local markets across Africa."
Cushman & Wakefield CEO of EMEA Colin Wilson said that the sub-Saharan region contains Africa’s two largest economies of Nigeria and South Africa, as well as some of the world’s fastest growing and most dynamic markets.
“We are excited to enter this exclusive relationship with Broll, which enables us to support clients who are already well-established there, as well as provide strategic on-the-ground advice to those looking to grow their presence or enter the region for the first time,” he said.
Pictured: Broll's Ken Gerber (left) and Malcolm Horne (right) at CFO Day 2018.