Press release

Leading Danish commercial real estate advisors launch new industry data collaboration

CBRE, Colliers, EDC Erhverv Poul Erik Bech, Engel & Völkers, Newsec, Nordicals, and Savills have joined forces in a new collaboration to provide coordinated and aligned transaction data for commercial and investment real estate in Denmark.

January 18, 2024

branchens-data_logo_final_2024

Associated Contact

Marie Koefoed Agerskov

Communications Specialist

Photo of marie-koefoed-agerskov

Several leading commercial real estate advisors today announce the end of disparate calculation practices and estimates in terms of transaction volumes in the Danish market for commercial and investment real estate.

Seven market-leading advisors are participating in the collaboration, which will introduce a coordinated approach to a uniform calculation of transaction volumes – among other things to be able to provide as accurate and transparent a picture of transaction activity as possible across the industry.

The background for the collaboration is that different platforms and players in the commercial real estate market have historically reported transaction volumes, but most often without a coordinated definition of such volumes.

Aligned data method

For instance, the participating advisors have now agreed on what property types are to be included in the calculations to achieve the most accurate presentation of activity in the investment property market.

This means that e.g. internal transactions, assets in the field of agriculture as well as wastewater treatment plants and wind turbines are excluded. The calculations are therefore characterized by including transactions directly from the participating advisors, who are also the best qualified to validate the quality and relevance of the transactions before they are included in the calculations.

One of the objectives of the collaboration is therefore to be able to avoid incomparable bases of calculations, which in the past were flawed by the risk of prioritizing the fastest announcements or citing the highest volumes over making the highest quality announcements.

Quality stamp indicates industry data

To clearly indicate when analyses of transaction volumes in Denmark are based on coordinated industry data, future announcements by the participating advisors will carry a quality stamp.

The collaboration only involves the standardization of methods for submitting transaction data, and there are therefore no limits as to how many professional commercial real estate advisors who can join. In addition, the announcement of monthly, quarterly and annual transaction volumes will take place as centrally coordinated and widely issued press releases. However, it is up to the participating advisors to analyze and communicate on the basis of the coordinated data.

Per Weinreich, Managing Director of CBRE Denmark, comments on the collaboration:
"Even when I started dealing with commercial real estate 25 years ago, data, insight, and transparency were paramount for the quality of valuation reports and for our advisory service. This development has only been reinforced with the increased professionalization of the Danish commercial property market over the years. I am therefore happy and proud that we among the commercial brokers have been able to come together and find common ground around this important task."

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at cbre.com