Cushman & Wakefield has announced the acquisition of the entire share capital of Cogest Retail, a major Italian retail asset services and leasing firm with a portfolio of 51 shopping centres and retail parks across Italy.
The acquisition will add over 1.5 million m2 of floor space under management to C&W's Italian portfolio as well as 150 professionals, effectively doubling the size of its Italian practice.
Cogest Retail will be integrated into Cushman & Wakefield’s EMEA Asset Services business, complementing a platform which in Italy already manages 2 million m2 of floor space.
'Today’s announcement is a very significant moment for our Italian business,' said Joachim Sandberg, head of Italy and the Southern Europe region at Cushman & Wakefield. 'The benefits for employees and clients, as well as the commercial potential, made this a very compelling step to take.'
Carmen Chieregato, who will continue to work as managing director of Cogest Retail in the newly-expanded business, said: 'We are very excited about this next phase of our development. For over 20 years Cogest has recorded uninterrupted growth, developing exclusive tools and investing in quality and research. This acquisition gives us the opportunity to combine our already successful business model with Cushman & Wakefield’s experience and resources.'
In EMEA, Cushman & Wakefield has 5,000 employees in 40 countries.
