The FINANCIAL — Cushman & Wakefield has announced that it has acquired 20 VIC Management Inc., one of Canada’s leading commercial real estate management firms providing high-level personalized service to an exclusive group of pension funds, private equity firms and high-net-worth investors.
“This acquisition, first and foremost, is about providing our clients with a deeper pool of talent and a broader array of services,” said Chuck Scott, Cushman & Wakefield Chief Executive Canada. “The 20 VIC team is a great complement to Cushman & Wakefield’s strong capabilities in Canada.”
This acquisition will significantly expand Cushman & Wakefield’s Canadian presence, adding depth to the core service offering of Asset Services and Project & Development Services. 20 VIC currently manages over 21 million square feet of space, supporting some of the most successful institutional and private investors in Canada, according to Cushman & Wakefield.
George Buckles and Randy Scharf co-founders of 20 VIC will join Cushman & Wakefield as Executive Managing Directors, Asset Services.
“We are thrilled about combining our forces with Cushman & Wakefield, one of the most storied brands in commercial real estate, and we look forward to continuing to lead our team and expand our presence across Canada and the United States,” said George Buckles, a founder of 20 VIC and now Executive Managing Director, Asset Services. “In making this decision, we knew the importance of maintaining our focus on our clients while adding the strength and resources of a trusted, global brand.”
Globally, Cushman & Wakefield manages over 13,000 assets and 1.4 billion square feet of space on behalf of its clients. Asset Services includes project and development services, client accounting, portfolio services, sustainability and transaction management.
“Our platform is built on client trust and respect – qualities that are front and centre with the incredible talent on the 20 VIC team,” said Marla Maloney, President of Cushman & Wakefield Americas Asset Services. “Randy and George have always set a high bar for client satisfaction, and we are confident they will continue that tradition under the Cushman & Wakefield banner.”
This addition to Cushman & Wakefield will almost double the Canadian operation’s headcount and will add significantly to the firm’s platform.