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Global real estate giant CBRE has entered into a definitive agreement to acquire Burgess Rawson, one of Australia’s best-known commercial property agencies, in a deal expected to close next month.
The acquisition will bolster CBRE’s Metropolitan Investments business, a division focused on commercial assets and development sites valued up to $35 million. CBRE said in a statement that the move will enhance its ability to serve a growing client base that includes high-net-worth individuals, developers, REITs, syndicators, family offices, and owner-operators.
Under the agreement, Burgess Rawson CEO Ingrid Filmer will lead the expanded Metropolitan Investments team.
Terms of the acquisition were not disclosed.
The acquisition will support CBRE’s continued growth in the investment sector, said Phil Rowland, CBRE Advisory Services chief executive officer, Australia & New Zealand.
“This acquisition aligns with our strategy to best serve clients in the increasingly sophisticated private and high-net-worth investor market,” Rowland said.
“It will enable us to diversify into new asset types and markets, access strong leadership and broker talent, and enhance our market position in what is a fragmented part of the investment sector.”
Filmer explained that the alignment will better help service their client base.
“Burgess Rawson has spent five decades building deep trust with private investors and establishing a market-leading national platform,” Filmer said in a recent statement.
“Joining CBRE – one of the most respected global real estate firms – gives us the scale, capability, and reach to elevate what we do best.
“This partnership allows us to connect our clients to international capital, world-class research, and broader market opportunities than ever before.”
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