Transwestern, Devencore Form US-Canadian Strategic Alliance
- Oct 18, 2018
Transwestern Commercial Services, based in Houston, and Devencore, headquartered in Montreal, have formed a strategic alliance that will extend their integrated CRE services capabilities “across North America to serve clients globally.”
They reportedly plan to collaborate on cross-border occupier, agency and capital markets opportunities and to provide research, marketing and consulting support for existing and future clients.
“This partnership ensures both firms have the best resources at their disposal when advising clients on sophisticated real estate matters,” Devencore CEO Jean Laurin said in prepared remarks.
Transwestern and Devencore together offer comprehensive services to a diverse range of occupier, owner and capital markets clients through their offices across North America. The companies’ announcement noted that “Canadian investors have been the most active buyers of U.S. commercial real estate, accentuating the need for highly capable, on-the-ground agency leasing and capital markets teams that are poised to add value to real estate portfolios.”
A Transwestern spokesperson told Commercial Property Executive that the alliance will have no effect on the number of either company’s offices or personnel in either country. Both companies declined to comment further on the alliance.
Transwestern specializes in agency leasing, asset services, occupier solutions, capital markets and research and shares operational expertise in development and real estate investment management with other Transwestern companies.
Founded in 1972, Devencore is one of Canada’s largest privately held corporate real estate brokerage and advisory firms. The company has offices in Toronto, Montréal and Vancouver, as well as affiliated offices in Calgary, Edmonton, Moncton, Halifax, Québec City and Victoria.
A global history
Transwestern has been going transnational for some time. Six years ago, the company entered into an alliance with BNP Paribas Real Estate, of Paris.
Two years later, Transwestern formed a joint venture with Ridge Property Trust, a REIT based in Chicago. The joint venture, Ridge Development, aimed to focus on industrial development and redevelopment projects not only in the U.S. but through a new office in Mexico City.
Image courtesy of Devencore