MVGM buys real estate management business in Europe from JLL and signs strategic partnership
Dutch real estate management company MVGM and JLL, the international manager of professional real estate services, announce today that they have reached an agreement on the acquisition by MVGM of JLL’s Continental Europe real estate management business, including some teams and resources for managing shopping centers, creating a real estate manager with a pan-European footprint.
In parallel, both have signed a strategic partnership, which will allow them to develop and serve a mutual customer base in the future.
Highlights of the agreement include:
– MVGM becomes one of the top 5 European players (number 1 in the Netherlands and top in Germany) in the growing real estate management market.
– MVGM is present in eight other countries with 540 employees: Spain, Portugal, Belgium, Luxembourg, Poland, Czech Republic, Romania and Slovakia and enlarged teams in the Netherlands and Germany
– Gathers more than 12 million m2 to the current MVGM portfolio of 6.4 million m2 in the Netherlands and Germany
– Gives access to the company to additional high profile clients that include global real estate investors.
– Enables JLL to continue to provide customers with access to real estate management and surface management services through a trusted partner with specialized experience and established operations, and through the teams with which they are already accustomed to working
Menno van der Horst, Member of the Board of Directors of MVGM: “This transaction is a leap forward in our growth ambition and a perfect strategic fit for MVGM. We are creating not only a European leader in real estate management but also a focused and specialized partner with an unparalleled experience. Our clients operating internationally benefit from a partner that combines international reach with local knowledge and the digital experience, including the collection and visualization of data we bring. And at the same time, we can offer our employees – current and future – the opportunity to be part of a dynamic organization.”
Guy Grainger, CEO of EMEA at JLL: “This sales and alliance partnership with MVGM offers our real estate management teams across Continental Europe opportunities for growth and prosperity in the future. The partnership with MVGM ensures that customers will continue to receive the best real estate management services on the market and allow us to continue to provide access to a variety of real estate services throughout Continental Europe including real estate management through our trusted partner. We look forward to working closely with MVGM as we develop and deliver services to a joint customer base.”
Acceleration of MVGM’s growth strategy
The acquisition of the real estate management business in continental Europe of JLL is a milestone in the implementation of the MVGM growth strategy. It fits in perfectly with the company and is fully in line with the optimization that MVGM is looking for through additional scanning and accelerating innovation, resulting in unparalleled service quality. MVGM’s ambition is to become a European leader in real estate management. MVGM has grown rapidly in the last five years through acquisitions. The company’s success story in acquisitions includes PropertyFirst in Germany in 2019, the merger with Verwey in 2018 and the acquisition of Dutch Actys in 2016.