Cushman & Wakefield (C&W) has become the largest international property adviser in the Netherlands after completing the take over of DTZ Zadelhoff, the Dutch business that declined to take part in the global merger of DTZ and C&W in 2015.
Cushman & Wakefield Netherlands will be headed up by Jeroen Lokerse (pictured), while Jeroen de Bruijn, chairman of the board at DTZ Zadelhoff, has been appointed head of integration Netherlands to lead the merging of the two companies.
The combined firm employs 575 people, working on behalf of institutional, corporate and private clients.
Jeroen Lokerse, head of the Netherlands, Cushman & Wakefield said: 'Today marks a significant moment for our business as well as for our industry; this acquisition is unmatched in the real estate sector. Being part of this transformational move will create significant opportunities for our clients as well as our people. We will offer clients a broader range of high quality services across all service lines and sectors both locally and globally.'
DTZ Zadelhoff
The merger comes 10 months after DTZ Zadelhoff and Cushman & Wakefield ended talks on merging their businesses in the Netherlands. DTZ Zadelhoff operated as a partnership with 14 partners – of which thirteen are individuals, participating through legal entities with limited liability. Eleven of the individuals are becoming employees of Cushman & Wakefield. Two partners, Frans van Hoeken and Loek van der Kroft, will continue their career outside the organisation.
Jeroen de Bruijn, head of integration Netherlands, Cushman & Wakefield, said: 'By combining DTZ Zadelhoff's strong regional presence and existing client relationships with Cushman & Wakefield’s enhanced network of international investors and occupiers, we will transform the commercial real estate market in the Netherlands. The acquisition is testament to our achievements to date, thanks to our committed team and the trust of our clients. Going forward we are committed to ensuring a smooth integration of the two firms to drive maximum advantage for our clients and new opportunities for our teams.'
Cushman & Wakefield has 5,000 employees in 40 countries across EMEA.
