European direct real estate investment joint venture La Francaise and Forum Partners on Monday announced the acquisition of Cushman & Wakefield's $1.4 billion investment management business, Cushman & Wakefield Investors.
Terms of the transaction were not released, according to Russell Platt, CEO of Forum Partners, in an e-mail.
Cushman & Wakefield Investors specializes in core and core-plus properties in Europe, particularly in France, Germany, the U.K. and Sweden.
Real estate manager La Francaise and real estate and corporate finance manager Forum Partners four months ago created a joint venture to become a European real estate investment manager.
Benefits of the transaction include enhancing access to pan-European deal flow, market access and asset management capabilities, and “a complete range of bespoke pan-European real estate investment solutions (direct real estate, listed and unlisted real estate investment funds, private and public equity and debt),” Mr. Platt wrote.
The combined platform will have close to $20 billion total assets under management, of which $14 billion are direct core European real estate investments, Mr. Platt added.