Cushman & Wakefield (NYSE: CWK) announced today that the firm has acquired substantially all of the assets of Tikijian Associates, a leading multifamily investment sales brokerage in Indiana.
Tikijian Associates founder George Tikijian III, CCIM, and Hannah Ott, CCIM, join Cushman & Wakefield as Executive Managing Directors, and John Baker and Cameron Benz join as Senior Associate and Financial Analyst, respectively. Long-serving Tikijian Associates’ Managing Director Kimberly Fetzer and Marketing Director Christine Nealis join Cushman & Wakefield as well.
“We saw this as a tremendous opportunity to join a firm with unlimited potential and the ability to provide even better services for our clients,” Tikijian said. “Cushman & Wakefield’s multifamily and capital markets growth story is truly compelling and made it an easy decision. Locally, Cushman & Wakefield and its predecessor firms have been market leaders in Indiana and throughout the Midwest for decades and provide an unparalleled cultural fit.”
Added Ott, “Joining Cushman & Wakefield is a natural fit for Tikijian Associates. We each have a long history of delivering exceptional results to our clients driven by a highly collaborative and client-centered culture. We felt that by becoming part of Cushman & Wakefield, our team could further grow its already robust market share and offer additional resources to our clients.”
Tikijian founded the firm in 2005 and, over the past 13 years, Tikijian Associates has closed more than 240 transactions valued at more than $2.7 billion with more than 60,000 units sold to institutional, value-add, private equity and other market participants, becoming a leader in multifamily investment sales in Indiana.
In October, the firm closed one of the largest multifamily investment transactions in Indianapolis’ history, the $122 million sale of a five-property, 1,983-unit portfolio.
“We perpetually seek to add top talent and build on our capabilities, and with Hannah, George and their team, we’ve certainly accomplished that,” said Tim Michel, Managing Principal of Cushman & Wakefield in Indianapolis. “With Tikijian Associates, we have a great opportunity to take an existing, successful multifamily investment sales group and plug it into our regional and national platform, creating a better depth and breadth of services for our clients here in Indiana and throughout the U.S. We’re looking forward to partnering with George and Hannah, who are not only well respected in the industry but also share our values of great client service and commitment to Indianapolis.”
For Cushman & Wakefield, the addition of this team also builds momentum as multifamily development and investment, which has been growing rapidly for the past five years, intensifies focus on suburban and secondary and tertiary markets. The acquisition also complements the recent addition of a multifamily team in Chicago, including Managing Directors Susan Tjarksen, Todd Stofflet and Jason Stevens, who joined the firm in October.
“Hannah, George and their team are ideal partners as we continue to build our multifamily capabilities,” said Josh Goldfarb, Cushman & Wakefield Vice Chairman and co-leader of the firm’s Americas multifamily platform. “The deep, local insight they provide is incredibly valuable and creates an exceptional client experience. They’ve been market leaders for decades and instantly improve our ability to serve clients anywhere across the U.S.”
Added Marc Robinson, Cushman & Wakefield Vice Chairman and co-leader of the Americas multifamily platform, “We made a concerted, collaborative effort to attract Hannah, George and their team to Cushman & Wakefield, and we’re looking forward to partnering with them. Together, we have an enormous opportunity to build on the past two years’ momentum as we work toward our goal of creating the industry’s leading multifamily platform.”