Cushman & Wakefield has bought out its long-time Mexican partner in a bid to expand its presence in Mexico
The global property company has bought the 50% interest in Groupo Accion, a Mexican real estate and development company, which had been its partner in Cushman & Wakefield Mexico for 14 years. Terms of the agreement were not announced.
‘Mexico’s economy continues to grow steadily in the transportation, warehousing, communications and financial services sectors, which places Mexico on the global stage with other world economies.
‘This is why Cushman & Wakefield has put a focus on Mexico as a place to continue our strategic expansion growth initiative,’ said Victor Lachica, president of Cushman & Wakefield Mexico.
Cushman & Wakefield has operations in Mexico City, Juarez and Monterrey, providing office and industrial brokerage, research, valuation, client solutions and capital markets services.
It employs more than 170 people throughout Mexico and is the leader in the market.
‘This is another move to ensure consistency of service delivery around the world,’ said Tony Marano, chief executive officer for the Americas at Cushman & Wakefield.
‘We continue to see Mexico as an area of interest for our clients and an area that we will continue to invest in as a firm.’
Over the last two years, Cushman & Wakefield has bought its Russian affiliate and is now Cushman & Wakefield Stiles & Riabokobylko.
In Canada, it bought its Canadian affiliate and is now Cushman & Wakefield LePage.