Cushman & Wakefield (C&W) and RH International have announced a new joint venture, Cushman & Wakefield Residential, to advise on large-scale, high quality residential investment and development opportunities throughout EMEA. The vehicle is designed to service the emerging market for international capital seeking attractive investment opportunities in Europe's rapidly growing residential market.
C&W and RH International formed a business association in June 2004 and, since then, have worked together on a number of residential, hotel and mixed-use developments across Europe, typically providing investment transaction advice, funding and onward sales.
Cushman & Wakefield Residential combines the specialist skills and resources of RH International's residential team together with C&W's established operations, existing client base and market knowledge throughout EMEA.
The Cushman & Wakefield Residential team will operate from existing Cushman & Wakefield offices throughout EMEA with a central team based with Cushman & Wakefield Hotels at RH International's European headquarters at St George Street, Mayfair, London W1. The new venture will initially cover EMEA but the intention is to extend it to other markets over time.
During the past eight years, RH International has established itself as a leading player in Europe and has advised on some 5 billion of residential property transactions. These transactions typically involve the full breadth of consultancy and professional advisory services from initial conception through to completion of the development and international sales.
Cushman & Wakefield Residential is instructed on over 20 residential projects worth over 1 billion, cementing its market expertise in the residential component of mixed-use schemes and how other disciplines effect and drive residential values. These include the sale of the Las Lomas Village in La Manga Club, Spain, and consultancy, agency and capital raising on Obol XI, a vast mixed-use scheme including 1,600 residential units, on the banks of the Danube, Budapest, Hungary.
Andrew Williams, Managing Director, Cushman & Wakefield Residential, said: "The provision of a pan-European capability in the residential sector through Cushman & Wakefield's unrivalled EMEA infrastructure provides developers and investors alike with skilled and innovative access to a hugely exciting sector.''
Adrian Hill, Chairman, Cushman & Wakefield Residential, said: "The provision of a pan-European capability in the residential sector through Cushman & Wakefield's unrivalled EMEA infrastructure provides developers and investors alike with skilled and innovative access to a hugely exciting sector."
Source: Cushman & Wakefield