Cushman & Wakefield has purchased its long-term alliance partner in Turkey, P&D Real Estate Consultants.
The firm announced the purchase, at an undisclosed price, this morning.
The tie-up sees P&D managing director Rahsan Cebe become a partner of Cushman & wakefield as well as managing director for Turkey.
Cushman & Wakefield inherits a team which advised on transactions including Carrefour and Turkish company Sabanci’s E267m (£213m) sale of the Merter shopping centre development in Istanbul to Apollo Real Estate Advisors, last year.
Paul Bacon, Cushman & Wakefield chief executive officer for EMEA, said: ‘Turkey is one of Europe’s most dynamic markets.
'The country is attracting interest from a wide cross-section of clients; yields and returns are higher than those in the more developed markets of Europe, and economic growth prospects are strong.’