Cushman & Wakefield has acquired 20 VIC Management Inc, a Toronto commercial real estate advisory and management company. No financial terms were released. Cushman & Wakefield, a real estate business based in Chicago, said the deal will expand its Canadian presence and add depth to the core offering of asset services and project and development services. George Buckles and Randy Scharfe, 20 VIC’s co-founders, will join the company as executive managing directors, asset services. Cushman & Wakefield has been owned by an investor group composed of TPG Capital, PAG Asia Capital and Ontario Teachers’ Pension Plan since 2015.
Cushman & Wakefield Acquires 20 VIC Management Inc
20 VIC Founding Principals Buckles and Scharfe to Lead Asset Services in Canada
TORONTO – Cushman & Wakefield has announced that it has acquired 20 VIC Management Inc., one of Canada’s leading commercial real estate management firms providing high-level personalized service to an exclusive group of pension funds, private equity firms and high-net-worth investors.
“This acquisition, first and foremost, is about providing our clients with a deeper pool of talent and a broader array of services,” said Chuck Scott, Cushman & Wakefield Chief Executive Canada. “The 20 VIC team is a great complement to Cushman & Wakefield’s strong capabilities in Canada.”
This acquisition will significantly expand Cushman & Wakefield’s Canadian presence, adding depth to the core service offering of Asset Services and Project & Development Services. 20 VIC currently manages over 21 million square feet of space, supporting some of the most successful institutional and private investors in Canada.
George Buckles and Randy Scharfe co-founders of 20 VIC will join Cushman & Wakefield as Executive Managing Directors, Asset Services.
“We are thrilled about combining our forces with Cushman & Wakefield, one of the most storied brands in commercial real estate, and we look forward to continuing to lead our team and expand our presence across Canada and the United States,” said George Buckles, a founder of 20 VIC and now Executive Managing Director, Asset Services. “In making this decision, we knew the importance of maintaining our focus on our clients while adding the strength and resources of a trusted, global brand.”
Globally, Cushman & Wakefield manages over 13,000 assets and 1.4 billion square feet of space on behalf of its clients. Asset Services includes project and development services, client accounting, portfolio services, sustainability and transaction management.
“Our platform is built on client trust and respect – qualities that are front and centre with the incredible talent on the 20 VIC team,” said Marla Maloney, President of Cushman & Wakefield Americas Asset Services. “Randy and George have always set a high bar for client satisfaction, and we are confident they will continue that tradition under the Cushman & Wakefield banner.”
This addition to Cushman & Wakefield will almost double the Canadian operation’s headcount and will add significantly to the firm’s platform.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.
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