Following a tendering process, German investor IVG has appointed Cushman & Wakefield in France to handle the property, technical and accounting management for its entire French portfolio.
This portfolio consists of 29 office buildings located in the Paris region (inner and outer suburbs) as well as elsewhere in France, representing a volume of 185 000 m².
Under this new mandate, Cushman & Wakefield France has become IVG’s sole partner in France.
“We are very pleased to have been chosen by IVG to value and manage its entire French portfolio. We will put dedicated engineering resources and specific tools in place with the aim of increasing the performance of each asset,” explained Stéphane Bureau, Head of Property & Asset Management, Cushman & Wakefield France.
This new partnership reinforces Cushman & Wakefield’s position as a major player in the market with total assets under management of more than 2.8 million m² in France.
“We are delighted to be working with the Cushman & Wakefield team which has shown a dynamic and innovative approach in the management of our portfolio,” said Chris Linney, Head of Southwest Europe, IVG Immobilier France.
In addition, IVG has also retained Cushman & Wakefield’s Spanish teams in Madrid and Barcelona to manage a portfolio of 12 assets with a total volume of 80, 000 m², as well as renewing its management mandates with Cushman & Wakefield in Italy and Portugal, demonstrating its confidence in the world’s largest privately-owned real estate services firm.