Cushman & Wakefield said on Wednesday that it has signed an exclusive arrangement with Red as its affiliate in Denmark.
The Copenhagen-based firm, now known as Cushman & Wakefield | Red, provides a range of property services including capital markets, retail, office letting, valuation & research as well as occupier services. The firm, established in 2004, has a staff of 33 with clients including public and institutional players as well as foreign funds.
The formal affiliate appointment follows the 2015 global merger of Cushman & Wakefield and DTZ.
Nicholas Thurø, managing director at Cushman & Wakefield | Red, said: 'Over the last six to seven years, Denmark has gone from being a national to an international real estate market. In the first half of 2017, 61% of the transactions in Denmark were with a foreign investor as the buyer and therefore, a strong international partner like Cushman & Wakefield is crucial to us.'
Cushman & Wakefield has a strong presence in the Nordics, coordinated from Sweden.
The exclusive affiliation follows similar agreements announced in Finland and Norway earlier this year, creating Cushman & Wakefield Finland Oy and Cushman & Wakefield Realkapital respectively.
'Our strong and long-lasting relationships with affiliates across EMEA extends delivery into markets where Cushman & Wakefield does not currently have a wholly-owned presence,' commented John Forrester, Chief Executive EMEA, Cushman & Wakefield. 'This benefits both local and global clients who gain access to our global network and local knowledge respectively.'
