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Burgess Rawson, a leading commercial property agency that recently celebrated a half-century in operation, has reached a deal to be acquired by the Australian arm of global, Texas-based property powerhouse CBRE.
CBRE revealed today that it had entered into a definitive agreement to buy Burgess Rawson with the transaction - for an undisclosed sum - due for completion next month. The deal does not include Burgess Rawson operations in WA or the ACT which are independently owned.
Founded in 1975 by Chris Burgess, Gerald Rawson and Graeme Watson, the privately-owned Burgess Rawson is a market leader in Australia’s private and high-net-worth commercial property investor market, and employs more than 80 people.
Managing transactions in a broad range of sectors, including early education, convenience retail, fast food, healthcare, large-format retail and service stations, Burgess Rawson is expected to "significantly strengthen" CBRE’s Metropolitan Investments business.
The group's Metropolitan Investments division focuses on commercial property assets and development sites valued at up to $35 million, and post-transaction will be led by Burgess Rawson's current CEO, Ingrid Filmer.
“Burgess Rawson has spent five decades building deep trust with private investors and establishing a market-leading national platform," Filmer says.
"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."
CBRE claims the acquisition will bring together the two companies' complementary strengths and resources to provide enhanced solutions for high-net-worth individuals, developers, owner-operators, real estate investment trusts (REITs), syndicators and family offices.
"This acquisition aligns with our strategy to best serve clients in the increasingly sophisticated private and high-net-worth investor market," says CBRE's advisory services CEO for Australia and New Zealand, Phil Rowland.
"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.”
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