By Barbra Murray, Contributing Editor
Acknowledging that two are more powerful than one, TCN Worldwide Real Estate Services and GVA Worldwide have formed a new alliance with a transatlantic reach.
Both international real estate advisors bring quite a bit to the partnership. TCN is a consortium of independent commercial real estate firms with more than 800 real estate professionals and an 80-million-square-foot management portfolio. The company boasts annual transactions exceeding $38.8 billion. GVA, a partnership of independent commercial real estate companies, offers a wide variety of services to its clients and through its newly formed partnership with Bilfinger Real Estate, the firm has access to 5,000 professionals across 25 countries.
The alliance between TCN and GVA isn’t a new plan; it’s been in the works for quite some time. For GVA’s part, the arrangement marks a major move in its goal of increasing transatlantic connections and bolstering cross-border capability. TCN is on a global expansion program as well and expects to be able to extend the reach of its global partners in Europe and better accommodate clients. Together, the companies will be able to provide a more comprehensive list of services, including transactions, strategic planning, market and site analysis, financial and fund structuring, lease consultancy, pre-acquisition due-diligence, valuation, asset, property and facilities management.
And it appears the timing is right for just such a union. “As the markets continue to strengthen and the flows of capital continue our access to and representation in the U.S. becomes increasingly important for our clients,” Patrick Morrissey, chairman of GVA, said in a prepared statement.