Colliers International acquires property management company in Hungary
June 4, 2014
Global real estate firm Colliers International has acquired Property Partners, an established Property & Facility Management company in Hungary. The two parties will establish a new company bringing together Colliers Internationals’ existing and the newly acquired business with immediate effect.
As a result of the acquisition, the new company will have approx. 145,000 sq m under management with clients like Skanska, Deka, Peakside, Erste Bank and Immofinanz, providing services for Class A office buildings like Green House, Atrinova and Obuda Gate, for an industrial/logistic portfolio including Pharma Park, and a retail portfolio with 15 shops in Budapest.
Property Partners was founded and run by Balázs Györke and József Mózes, each with more than 15 years of experience in the business, which they will bring to the new Colliers International company, together with 16 colleagues. As a result the new company will become a major player in the market, with Balázs and József at the helm.
Commenting, Tim Hulzebos, Managing Director at Colliers International Hungary said: “In acquiring Property Partners we will be able to grow our property management and facilities management businesses and immediately triple our instructions. We are experiencing increasing client demand for these services in Hungary, and acquiring Property Partners will help us to increase our market share.”
"I am delighted we have agreed the deal with Property Partners. By combining the two culturally aligned teams it enables us to have a bigger platform in the Hungarian market, allowing further growth in the business and providing a further enhanced client service.” adds Sean Dowsey, Colliers International’s Managing Director of Real Estate Management Services in Eastern Europe.
“We are glad that Colliers with its strong regional presence has chosen us as their partners to jointly build up a strong and successful Property and Facility Management team. We believe that combining forces with Colliers will create new opportunities in the market, as well as, enabling us to increase and improve the service level to our existing clients.” commented Balázs Györke and József Mózes regarding the deal.
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