New York-based Cushman & Wakefield has announced its plans to acquire the Atlanta- and Dallas-based third party client services business of Cousins Properties Inc. The business unit, known as the Client Services Group (CSG), provides third-party services to owners of Class A office buildings in Atlanta and Dallas.
Under the terms of the agreement, up to 128 professionals will transition from Cousins to Cushman & Wakefield. CSG's property management, landlord leasing and management services will be integrated into Cushman & Wakefield's investor services division.
‘This move marks a key milestone as we begin the next phase of our strategic growth plan,’ says Glenn Rufrano, president and CEO of Cushman & Wakefield, adding that the acquisition will enable the company to ‘continue to balance our service mix across our global platform and provide consistent quality service to our clients.’
The transaction is expected to close by year-end, subject to customary conditions and minimum third party consents.