The deal creates the largest independent commercial real estate firm in Victoria
Russell Kennedy has helped commercial real estate firm Allard Shelton to successfully seal a merger Gorman Commercial.
The merger creates the largest independent commercial real estate firm in Victoria, with $5bn in assets under management. The newly formed private-owned practice boast more than 3,500 tenancies under management, with a staff base of 70 commercial real estate specialists spanned across two office locations in Melbourne.
In line with the deal, the combined company now operates under the name Gorman Allard Shelton.
Allard Shelton director Joseph Walton described the transaction as “a winning proposition and a vote of confidence in the modern-day commercial real estate sector.”
“Gorman Allard Shelton will comprise the most experienced operators with the deepest local knowledge of their respective markets,” Walton said. “We expect to be able to attract more of the sector’s best agents who are looking to join a competitive and contemporary private practice that puts its people and clients at the centre of everything it does.”
Principal Rory Maguire led the Russell Kennedy team in assisting Allard Shelton with all aspects of the transaction. He received additional legal support from principal Rima Newman and associate Jaqueline Wilson.