IRISH commercial property consultancy firm, Harrington Bannon, has been acquired by European real estate group, Atisreal, in a deal worth close to 10m.
With a turnover of more than 5million in 2005, the acquisition of the Irish firm will open up access to local commercial property markets for the new owners. Correspondingly, Harrington Bannon clients will now enjoy access to pan-European property markets and professional services supported by 51 offices and over 2,650 staff in Europe and the USA.
Harrington Bannon, which was founded in 1979, offers services across the commercial property spectrum to corporate and private clients including Castlethorn, Dunloe Ewart, Green Property, Shelbourne Development, Tiltware, Kellogg's, AIB Group, Bank of Ireland and Ericsson. The company has been involved in significant Irish property developments in the past few years, including the Dundrum Shopping Centre on behalf of Crossridge and the Cherrywood development on behalf of Dunloe Ewart.
The senior management team of the Irish firm will remain with the business and continue to grow the client base locally and abroad.
Patrick Curran, who becomes managing director of Atisreal Ireland, commented: "Corporate real estate is conducted globally but cemented locally. The integration of Atisreal's international experience and access with Harrington Bannon's` local expertise and knowledge ensures we can offer an unparalleled service to our clients across Europe and the USA."
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