Commercial real estate services firm Colliers International has entered into a definitive agreement to acquire Engel & Völkers Main -Taunus, a major residential investment expert in the Frankfurt region.
The business will be rebranded as Colliers International and integrated into existing operations increasing Colliers’ scale and capabilities throughout Frankfurt.
The transaction is subject to customary closing conditions and is expected to close by the end of June 2018. No further details of the transaction were disclosed.
Founded in 2002 by managing director Felix von Saucken (pictured), the operation is comprised of a team of professionals providing residential investment services to institutions and high net worth investors. Von Saucken will join Colliers International as a managing director and will lead the residential investment operations locally and develop the capability across Germany.
'Residential investment is a stable and growing asset class in Germany and given its attractive return characteristics, very appealing to a broad range of investors,' said Matthias Leube, Colliers International's Chief Executive Officer for Germany. 'The addition of the Frankfurt business will strengthen our established residential team and the addition of a high calibre, industry leader in Von Saucken to lead our national service line, will position Colliers to better serve our clients domestically and internationally.'
'By joining forces with Colliers International, we will benefit from their global brand and platform, positioning us to accelerate our growth in the Frankfurt region and across Germany,' said Von Saucken.
'This is the third in a series of strategic acquisitions in EMEA this year, all of which increase our strength and breadth to better serve our clients,' said Chris McLernon, Colliers International's CEO for EMEA. 'We will continue to pursue growth opportunities and strategic acquisitions that grow our market share, add service offerings and expand geographical presence, building further momentum that makes Colliers the real estate firm of choice for successful companies and enterprising people.'