NEW YORK AND LONDON – RKF, the country's leading independent real estate firm specializing in retail leasing, investment sales and consulting services, today announced the formation of an affiliation with leading U.K.-based retail consulting firm CWM Retail Property Advisors, LLP (“CWM”).
This marks the first time that RKF has formalized ties with an overseas firm. In so doing, today’s news sets the stage for the RKF and CWM brands to collaboratively expand their presence. Each firm currently boasts a dominant and highly competitive market position within the United States and United Kingdom, respectively.
As part of the agreement, RKF has acquired CWM’s New York City office whose current staff will join RKF. In addition, CWM and RKF have each committed to an exclusive relationship involving shared business referrals within the U.S. and the U.K. The financial terms of the transaction were not disclosed.
Both RKF and CWM will continue to own and operate their respective offices in both the U.S. and the U.K. Headquartered in Manhattan, RKF has additional offices in Las Vegas, Los Angeles, Miami, Chicago, Northern New Jersey, and San Francisco. The firm is recognized for its influence and expertise in transforming urban and key suburban retail markets, as well as for providing creative, innovative and strategic real estate solutions, since being founded in 1998. RKF's seasoned team has been credited with pioneering the development and revitalization of some of the most significant retail corridors in the U.S. RKF currently consists of 119 real estate professionals and support staff.
Founded in 1993, CWM is considered to be the U.K.’s leading independent retail property consultancy. The firm, which represents an impressive list of landlord and tenant clients, has a proven track record in the regeneration, transformation and creation of successful shopping destinations throughout London and the U.K. CWM currently employs 45 professionals and staff.
"Our strategic affiliation with CWM represents a critical part of our global strategy to expand RKF's reach into key cities throughout the U.K. and continental Europe,” said RKF Chairman & CEO Robert Futterman. "The symbiotic nature of this relationship cannot be overstated: Our U.S.-based retail tenants and investors will immediately gain access to the European markets via the CWM platform; CWM, in turn, will introduce their European-based retail tenants and investors to the U.S. market through our vibrant national platform here."
Added Futterman: “As our retailer and ownership clients have in recent years entered key urban markets overseas, they have increasingly turned to us seeking representation in these places. Now we are in a position to offer them the same high-level service in the U.K. and Europe that once we could only deliver here in the U.S.”
“We are delighted to have forged this strategic alignment with RKF, which is one of the strongest and most ambitious retail services firms in the States,” said Scott Murdoch, founding partner of CWM. “While our relationship with Robert and his team will yield immediate benefits for both firms in the U.S. and Europe, we also plan to work with RKF on building a joint presence in Asia where CWM has already established a beachhead.”
More details on the Asia initiative will be disclosed soon.
The country’s leading independent real estate firm specializing in retail leasing, investment sales and consulting services, RKF serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and dispositions. With approximately $20 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Chicago, Las Vegas, Los Angeles, Miami, Northern New Jersey, and San Francisco. www.rkf.com
About CWM Property Advisors, LLP
Founded in 1993, CWM is widely regarded as the leading independent retail property consultancy in the United Kingdom. CWM represents an impressive list of landlord and tenant clients and has a proven track record in the regeneration, transformation and creation of successful shopping destinations throughout London and the U.K. For more information, click here.