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Avison Young opens office in Hungary7 Jan 2021
AY is expanding in the CEE region via a strategic affiliation with Limehouse Advisory LLC – a property advisory company based in Budapest, Hungary.
Avison Young expands operations in Central Europe, announces strategic affiliation with Limehouse to deliver commercial real estate advisory in Hungary.
Mark E. Rose, Chair and CEO of Avison Young, announced a strategic affiliation with real estate advisory and asset management group Limehouse, which will now operate its advisory services in Hungary under the Avison Young brand, while carrying-on its asset management activity in parallel as Limehouse Partners.
Based in Budapest, Limehouse manages the assets of institutional investors from across the globe who are committed to the Central and Eastern European market and recently expanded its service portfolio to include capital markets, property and project management to serve its established client base.
“The addition of Limehouse’s advisory know-how to Avison Young builds on our continuing expansion across Europe where we see opportunities for growth as we focus on innovation, technology and leveraging the value of property for our clients,” said Rose. “Adding breadth and depth to our global platform fuels the collective intelligence that helps occupiers and investors achieve economic, social and environmental outcomes.”
Limehouse is the successor of Lodge and Partners, formed in 2016 by founding partners Jake Lodge and Célestin Huot-Marchand. They were joined at the end of 2020 by capital markets leader Benjamin Perez-Ellischewitz from JLL who brings 20 years of experience taking part in significant transactions in the Hungarian market and large portfolio and platform deals.
“We’ve been dedicated to delivering strong returns to our clients through acquisition, management and enhancement of commercial property investments,” said Lodge. “In joining Avison Young, the growth of our advisory business is enhanced by a multinational platform that is built on technology. Avison Young’s network and insights will help us deliver value for clients who seek professional real estate services across the Central and Eastern European market.”
The team has extensive experience in the region, having previously managed an AXA-IM Real Assets portfolio of more than €1.6 billion with assets spread across Poland, Czech Republic, Slovakia and Hungary. Collectively they’ve transacted more than €3.5 billion of commercial real estate and today manage a portfolio of approximately 68,000 square meters on behalf of institutional investors and UHNWI.
“Jake, Célestin and Ben are natural partners for our strategic expansion across Central and Eastern Europe – a key component of our wider European growth plans which will continue in 2021 and beyond. Our ambition is to enable our clients to benefit from an integrated, seamless proposition across the European continent that deploys of the best skills, the latest technology and a deep understanding of city dynamics,” added Gerry Hughes, Principal and President of Avison Young Europe.
“I am excited about this expansion of Avison Young operations on continental Europe, especially in the CEE region. Along with our colleagues in Romania and now in Hungary as well, we will combine our market experience in the region to provide clients with the highest level of advisory services. I know Jake, Célestin and Ben well and I am very happy to cooperate with them to make Avison Young brand thrive in this part of Europe.” - commented Michal Cwiklinski, Principal, Managing Director of Avison Young operations in Poland.