CHICAGO AND TORONTO — Global real estate advisory firm Avison Young has closed a recapitalization transaction and is embarking on a new chapter in its growth saga.
In August, Avison Young announced that it had entered into an agreement with unnamed partners to recapitalize its balance sheet and debt profile as a means of unlocking liquidity for future growth. More specifically, the recapitalization centered on swapping debt for equity with the firm’s creditors.
According to a press release issued at that time, the recapitalization broadly aimed to accomplish the following objectives:
- Deleverage the balance sheet
- Reduce debt and preferred equity obligations by nearly 70 percent
- Provide common equity ownership positions to key financial partners
- Preserve common shares for Avison Young principals
With the closing of the transaction, which follows a similar recapitalization in 2024, Avison Young is moving forward with “a solid balance sheet, low debt, recruiting momentum and a clear growth plan centered on investing in its people, expanding capabilities for clients and pursuing opportunities that strengthen and grow the business.”
In addition, the Toronto-based company, which maintains its U.S. headquarters in Chicago, is “actively identifying opportunities for both organic expansion and strategic acquisitions in markets, sectors and AI-based technology where it can deliver greater value for its clients.”
“The completion of this recapitalization marks an acceleration point for Avison Young and the beginning of an exciting next chapter,” says Mark Rose, Avison Young’s CEO. “We have tremendous confidence in where we are going, and our financial partners have demonstrated that they share that confidence by voting with their pocketbooks. We are going to be very active, investing in our people, our leading AI technologies and our business, strengthening our services to clients and pursuing opportunities that accelerate our growth.”
Founded in 1978, Avison Young is a global commercial real estate advisory company with more than 100 offices and 4,000 real estate professionals worldwide.
- Taylor Williams