North Rae Sanders, one of the leading providers of commercial property services, was purchased by the Canada-based commercial real estate services provider, Avison Young.
"Our entire team looks forward to working with our new colleagues at Avison Young," said Robert Rae, founder of North Rae Sanders. "The acquisition will enable us to grow our business and provide access to a broader range of resources. The Avison Young brand will also enable us to deliver an unprecedented level of service to our current and future clients throughout the U.K. and other parts of Europe, as well as in North America. Taking advantage of the Midlands' rising population, vibrant industrial real estate sector and strong job-growth opportunities, our legacy team will enable Avison Young to enhance its full-service platform and overall market reach."
With the acquisition, North Rae Sanders will now be operating under the name Avison Young and will be joined by eight members from NRS. Additionally, Robert Rae, Andrew Jackson, Peter Keir and Tom Kimbell will become Principals of Avison Young. At present, Avison Young has 75 offices in 67 markets that employ more than 2,100 real estate professionals in Canada, the U.S., Mexico and Europe, according to their press release in PR News Wire.
"This acquisition is another important step towards the expansion of our rapidly growing U.K. operations. Avison Young will continue to offer clients a countrywide service offering that spans the entire property lifecycle, with access to overseas markets and resources of the wider firm. Furthermore, NRS will enable us to further bolster our service offering and provide us with insight and market knowledge at a local level. The NRS team is a perfect match for us as the members are focused entirely on delivering added value for clients, which mirrors the Avison Young client-centric, Principal-led culture," said Mark E. Rose, Chair and CEO of Avison Young.
"Robert, Andrew, Peter and Tom are well-respected leaders within the commercial property industry, and their combined experience and approach to the delivery of client projects will be extremely beneficial to Avison Young as we continue to execute our strategic growth plan throughout the U.K. Moreover, the recruitment of the eight members of the NRS team will further strengthen our existing high-performing U.K. team," said the CEO.
