The move comes after the European TCN members, led by Strutt & Parker in the UK and Aengevelt in Germany, quit to form their own organisation--the European Property Alliance--to concentrate on cross-border deals within Europe. They had complained that TCN had failed to deliver a significant trans-Atlantic deal flow, yet they had been required to pay a slice of fees earned on all cross-border deals back to the TCN HQ in the US.
Cyril Leonard was founded in 1934 and it already has associate firms in Continental Europe and the USA. Clients includes Alstom, Bsi, Alcatel, Scipher, Activision, Getty Images and Polo Ralph Lauren. Partner Andrew Hogge said: "Our partnership with TCN Worldwide will facilitate our ability to offer an expanded array of services, expertise and global coverage. In addition, membership will allow Cyril Leonard/TCN Worldwide to market UK property it is involved with on an international basis."
TCN Worldwide is currently comprised of 55 independent commercial real estate service firms in more than 210 markets worldwide with over 1,200 real estate professionals.
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