Old Bond Street firm Michael Horwitz acquired by CBRE Group

Old Bond Street-based retail property advisor Michael Horwitz & Company has been acquired by US real estate giant CBRE Group.

As part of the transaction, founder Michael Horwitz and his team will join CBRE’s London-based retail team.

Discussing the deal, Michael said his business will now have access to CBRE’s “powerful international platform and services”, which will allow it to help clients as they target global expansion.

He said: “London continues to be a magnet for leading international retail brands and our clients have been and will continue to be, first-movers in acquiring prime locations here and in other major cities across the world.”

The deal follows another completed in 2011 that saw CBRE acquire London-based retail property advisor Michael Peddar & Co.

CBRE’s UK managing director, Ciaran Bird, commented: “Our strengthened team’s collective expertise and relationships with many of the world’s leading luxury brands, combined with our broader capability in global retail, provides a powerful advantage for clients expanding into the growing luxury goods and lifestyle sector in the UK and markets globally.”

Michael Horwitz & Company was established in 1996. The firm has previously advised Italian and French brands on their real estate strategies as they expanded into the UK, in addition to working with various British companies.