DTZ
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| Industry | Commercial Real Estate Services |
|---|---|
| Headquarters | Chicago, Illinois, U.S. |
Area served | Worldwide |
Key people | Tod Lickerman, Global Chief Executive Officer Duncan Palmer, Global Chief Financial Officer |
Number of employees | 28,000+[citation needed] |
| Website | http://www.dtz.com/ |
Debenham Thouard Zadelhoff, known as DTZ, was a European joint venture originated from UK, France and the Netherlands, operating as a commercial real estate services firm.
On September 1, 2015, Cushman & Wakefield and DTZ merged.[1]
In December 2011, the parent company DTZ Holdings was placed into administration and its business entities were sold to UGL in order to repay £77.5m of an outstanding £106m debt owed to Royal Bank of Scotland and its shareholders equity was wiped out after a deal with its majority shareholder Saint George Participations and BNP Paribas Real Estate fell through.[2][3] the company was reportedly worth almost £500m around 2006.[2] The company was in financial difficulty after a spending spree prior to financial crisis buying Rockwood in the US and retail agent Donaldsons.[2]
2015: On May 11, 2015, DTZ announced the purchase of Cushman and Wakefield. When the deal closes, the expected combined employee count will be 43,000.[4]
On September 1, 2015, DTZ merged with Cushman & Wakefield. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion. The firm operates in more than 60 countries and has 50,000+ employees.[1]
DTZ Investors now exists as an entity of Cushman & Wakefield and operates as a full service vertically integrated real estate manager managing more than $17.8 billion of property.[5]
References
- ^ a b "Cushman & Wakefield and DTZ Announce Completion of Merger - Cushman & Wakefield". 2015-09-04. Archived from the original on 2015-09-04. Retrieved 2019-04-23.
- ^ a b c Ruddick, Graham (Dec 6, 2011). "DTZ becomes a victim of the financial crisis". The Daily Telegraph. Retrieved 11 January 2017.
- ^ "DTZ equity worth little or nothing, shares plunge". Reuters. Nov 11, 2011. Retrieved 11 January 2017.
- ^ Cushman & Wakefield to Merge with DTZ
- ^ DTZ Investors
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- Property companies based in London
- Property services companies of the United Kingdom
- Real estate services companies of the United States
- Property management companies
- Commercial real estate companies