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GVA sold to Avison Young

Alex Hayes 10 February 2019

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

GVA sold to Avison Young
As a result of the merger, Avison Young increases its revenue to app CAD 1 bln (app. EUR 660 mln)
WORLD Canadian based Avison Young has purchased real estate advisory GVA.

With the acquisition the company has entered a number. Formerly GVA had office in the UK, Austria, Bulgaria, Croatia, France, Greece, Italy, Norway, the Republic of Ireland, Romania, Spain, Russia, China and Poland.

“Avison Young is a company with many years of tradition, which is focused on its consistent development and global expansion. Over the past ten years it has grown from 300 real estate professionals in eleven offices in Canada to around 5,000 real estate professionals now in 120 offices in 20 countries. And is continually growing. The company has ambitious plans to expand in Poland and Europe, by acquiring key market professionals as well as whole teams and companies. Operating under the GVA brand our investment and technical advisory teams undertook significant projects and concluded considerable transactions, having gained the trust of our clients and won several market awards. We will continue with this trend. I am convinced that the GVA and Avison Young merger will create additional value and reinforce our Polish activities in the commercial real estate market,” says Michał Ćwikliński, the head of the Polish office.

The terms of the deal were not disclosed. As a result of the merger, Avison Young increases its revenue to app CAD 1 bln (app. EUR 660 mln) or 25 times as much as in 2008.

Credit Suisse and KPMG acted as Avison Young’s financial advisors in the deal with legal advice from and Gowling WLG, DLA Piper and Stikeman Elliott.


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