Deal will give Colliers almost 1.6 million square feet of total space under management in Hungary.
Budapest, June 4, 2014 - Global real estate firm Colliers International has acquired Property Partners, an established property and facility management company in Hungary. The two parties will establish a new company bringing together Colliers Internationals’ existing team and the newly acquired business with immediate effect.
As a result of the acquisition, Colliers International will have approximately 1.6 million square feet under management in Hungary. Clients will include Skanska, Deka, Peakside, Erste Bank and Immofinanz; and the firm will provide services for Class A office buildings across Hungary, like Green House, Atrinova and Obuda Gate, for an industrial/logistic portfolio including Pharma Park, and a retail portfolio with 15 shops in Budapest.
Property Partners was founded and run by Balázs Györke and József Mózes, each with more than 15 years of experience in the business, which they will bring to Colliers International, together with 16 colleagues. As a result, the new company will become a major player in the market, with Balázs and József at the helm.
Chris McLernon, Colliers International CEO in EMEA said: “We are strategically growing our business in key markets across Europe and this partnership with Property Partners is an important next step in our expansion plans. It follows our recent new office openings in Morocco and Georgia, as well as retail acquisitions that we’ve made in the UK and The Netherlands.”
“We are glad that Colliers, with its strong regional presence, has chosen us as their partners to jointly build up a strong and successful property and facility management team. We believe that combining forces with Colliers will create new opportunities in the market, as well as enable us to increase and improve the service level to our existing clients,” commented Balázs Györke and József Mózes.