NEW YORK CITY-Cushman & Wakefield said Monday it hasexpanded its capital markets practice with a group that will adviseclients on the disposition of corporate property across theUS. Heading the new practice will be Richard Ingwers,recently named vice chairman.

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Ingwers will supervise a national team that will include vicechairman Andrew Merin and Brad Rogers, an executive director inC&W’s capital markets group. Merin and his partner, vicechairman David Bernhaut, will be responsible for the team’sexecution in the Eastern US, while Rogers will do the same for theWest.

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“We think it’s important to coordinate not only the geographiesbut also the business lines,” C&W CEO Glenn Rufrano toldGlobeSt.com in June. The establishment of a cross-disciplinarypractice for asset disposition fits in with that strategy, andRufrano says in a release that the new initiative “enables ourcapital markets group to operate more efficiently, across the fullspectrum of our service platform, in the execution of corporatereal estate sales.”

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With CoreNet Global recently estimating that corporate Americaowns or occupies more than $1 trillion worth of real estate for itscore operations, C&W says it sees a long-term need for acorporate disposition practice. The firm cites global competitionamong corporations, the growing impact of corporate real estate onbalance sheets and the cost of corporate capital as increasing theneed for outsourced commercial real estate services in thecorporate sector, particularly when it comes to buying, selling orleasing property.

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C&W says the national practice and its leadership team willbe supported by a cross-functional advisory board that draws uponits investment banking, brokerage and business consulting groups.The practice will focus on transactions ranging from sellingsurplus property to sale-leasebacks, according to C&W.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.