CBRE buys Tel Aviv affiliate

By Paul Norman - Tuesday, April 17, 2018 9:11

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CBRE has bought MAN Properties Real Estate Consultants, its affiliate company in Tel Aviv, Israel.

CBRE said the move helps it respond to increased demand from international and domestic clients targeting commercial real estate opportunities in the rapidly growing Israeli market.

Founded in 1996, MAN Properties employs a staff of 28 and has been an affiliate of CBRE since 1999.

Today, the company is led by joint owners and managers Jacky Mukmel and Chaim Agi, and provides capital markets and leasing services to occupiers and investors in the office, technology and retail sectors.

Israel’s commercial real estate market is experiencing significant growth fuelled in part by investment in the Financial Services and Technology sectors, which together account for approximately one-third of total Israeli GDP.

Martin Samworth, Group President and CEO, EMEA, CBRE, said: “This acquisition will consolidate our presence in an important growth market where both domestic and international investors and corporate occupiers are increasingly active. We have an extremely collaborative relationship with MAN Properties who have an exceptional market reputation. We look forward to developing our client service offering together.”

Jacky Mukmel, joint head of MAN Properties Real Estate Consultants, added: “We have enjoyed a very successful relationship with CBRE over many years and becoming an integral part of its leading global platform will bring many benefits for our clients. Our economy is growing strongly and solid market fundamentals and a healthy development pipeline will underpin continued growth in the commercial real estate sector. We are delighted that we are now in an even stronger position to provide a best-in-class service for our clients.”

pnorman@costar.co.uk

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