- Knight Frank and Cresa form strategic alliance
- Will integrate services to deliver needs-based occupier solutions
- Alliance Management Board will oversee affairs
Knight Frank and Cresa have announced their new partnership, which will allow the two real estate giants to deliver occupier real estate services to a global market.
Knight Frank, founded in London in 1896, is the world’s largest privately owned real estate consultancy firm.
Together with Cresa, the world’s largest occupier-centric commercial real estate firm based out of Washington, the firms have formed an alliance to expand into the global occupier market.
With their assets combined, the firms will operate from 384 offices across 51 territories, with over 16,000 people on board.
Knight Frank Australia CEO James Patterson said the decision to form a partnership was based on shared culture, values and business approach, and presents exciting global opportunities.
“Our strategic alliance with Cresa creates the largest occupier-focused global platform, with both firms cross-selling services and sharing insights to provide an unrivalled understanding of emerging and established markets around the world.”
James Patterson, Knight Frank Australia CEO
The companies will integrate their platform of services, including their Global Portfolio Solutions businesses, and invest in innovative technology and research capabilities to deliver comprehensive occupier solutions.
“Our alliance will focus on the needs of the clients we serve, enabling us to provide strategic advice and a depth of expertise to our occupier clients, delivering a range of first class solutions to cater for their needs,” Mr Patterson said.
Both companies say they have recognised a need for focused occupier services globally, and hence are committed to a long term alliance.
Alistair Elliot, Senior Partner & Group Chairman at Knight Frank, said he was delighted to announce the partnership, which will carry a strong client needs focus.
“I have no doubt this is the beginning of a long and fruitful relationship, one which will immediately add to both firms’ suite of services and the depth of expertise we can offer our diverse range of clients,” he said.
An Alliance Management board will be established to oversee the alliance’s dealings, and will include top executives from both parties.
Executives from both companies will also join each organisation’s board. William Beardmore-Gray, Knight Frank’s Global Head of Occupier Services will join the Cresa Board. Tod Lickerman, Cresa’s CEO, is also committed to regularly attending the Knight Frank Group Executive Board.
Mr Lickerman said the partnership was a natural choice for Cresa, considering the well-aligned values and structures of the firms.
“Together we will provide high-level service and resources to our clients around the world.
“We feel confident that this partnership will strengthen our ability to meet the rapidly changing needs of global occupiers,” Mr Lickerman concluded.
