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Avison Young will acquire brokerage GVA in a deal that will position it as one of the five largest brokerages in the United Kingdom.
The transaction is expected to close in the first quarter, Avison Young said. GVA has 1,500 employees in 15 offices in the United Kingdom, Ireland and Poland. Avison Young will combine GVA with its existing U.K. operations.
Headquartered in Toronto, Avison Young currently has 2,700 employees in 85 offices in Canada, the U.S., Mexico, the U.K., Germany, Romania and Korea.
“This is a transformational event that underpins our ambition and intent to significantly expand our footprint in Europe and beyond. Avison Young’s U.K. business will now be a genuine challenger brand firmly established among the top commercial real estate advisors in the U.K., North America and the world,” Avison Young CEO Mark Rose said in a statement.
The combined operations will have 5,000-plus professionals in more than 120 offices across 25 countries.
