Canadian real estate firm Avison Young acquires UK's GVA for global expansion

Toronto-based Avison Young’s reach has significantly expanded globally with its acquisition of United Kingdom firm GVA.

The acquisition of GVA merges both commercial real estate companies under the single unified brand of Avison Young, which is now the only privately held, principal-led, global, full-service commercial real estate services firm. It is also now one of the top five commercial real estate advisory companies in the UK.

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With GVA’s reach under its umbrella, Avison Young now has new offices across the UK and China, as well as offices in Austria, Bulgaria, Croatia, France, Greece, Italy, Norway, Poland, Dublin, Romania, Russia, Spain, and the United Arab Emirates. Its presence is comprised of 5,000 staff in 120 offices across 20 countries.

“This acquisition represents another milestone in our global expansion strategy, and the combination will better position Avison Young to serve our clients across the world,” said Mark Rose, chair and CEO of Avison Young, who also described his expanded firm as a “global, disruptive challenger brand.”

Avison Young now has GVA’s broad portfolio of national and international clients, including UK public institutions, multinational corporations, major space users, developers, owners, lenders, and investors.

The merger will increase Avison Young’s revenue to CAD$1 billion — 25 times its 2008 level.

The value of the acquisition was not disclosed.

Other major competing commercial real estate businesses that operate in Canada include CBRE, Colliers International, Bentall Kennedy, GWL Realty Advisors, JLL, Cushman & Wakefield, and NAI Commercial.