Harcourts announces joint venture with NAI Global

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Harcourts announces commercial property joint venture with NAI Global

9 March 2010: Harcourts has announced a new joint venture with NAI Global, one of the largest commercial real estate service providers worldwide, that will significantly expand the commercial real estate reach and services Harcourts can offer in New Zealand and Australia.

NAI Harcourts, the latest arm of Harcourts’ growing global empire, will take its first steps in New Zealand and Australia later this year.

A joint venture between Harcourts and NAI Global, which manages a network of 5,000 professionals and 325 offices in 55 countries throughout the world, NAI Harcourts will introduce a strong global platform of commercial real estate brokerage services to support corporate end users, investors and financial institutions locally and around the world.

The new venture is headed by commercial real estate industry veteran Christopher Nicholl, who as CEO of NAI Harcourts recently spoke of the company’s plans at NAI Global’s annual convention in Las Vegas and at Harcourts’ annual Business Leaders Conference in Australia.

Mr Nicholl comes to NAI Harcourts with more than 20 years’ experience in the commercial property industry. Prior to joining NAI Harcourts he was based in Singapore as International Director and Regional Managing Director, Project and Development Services, Asia Pacific for Jones Lang LaSalle. Previously he served as head of Colliers Australia and Colliers Asia Pacific.

Harcourts International Managing Director Mike Green says expanding Harcourts’ presence in the commercial sector is a significant step for the franchise group, which has more than 625 offices around the world, “and a necessary one to take the company’s growth to the next level”.

“Over the past few years the commercial market has grown to exceed billions in revenue, yet at the same time we have seen very few new entrants, which offers NAI Harcourts a tremendous opportunity,” Mr Green says.

President and Chief Executive Officer of NAI Global Jeffrey Finn says NAI Global has been looking for ways to grow a presence in New Zealand and Australia and Harcourts was “the perfect partner” for them to do so.

“The quality and strength of the Harcourts organisation in New Zealand and Australia, combined with NAI Global’s premier international commercial real estate network creates a powerful platform for NAI Harcourts,” Mr Finn says.

“NAI Harcourts will give us a strong presence and powerful business generation engine in this important part of the world, connecting businesses and investors from around the globe to this escalating market.”

ENDS

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