Alternative Real Estate Advisors (AREA) has acquired operational real estate procurement consultancy Fjeld Consulting.
The deal will see Grace Morgan, who previously held senior roles at the likes of CompassRock, Greystar and iQ Student Accommodation, oversee the strategic procurement and asset mobilisation services lines, and she will be joined at AREA by senior consultants Noah Gonzales and Nadeem Ahmed and analyst Waleed Sabawi.
Fjeld’s founder Dustin Fjeld will take up a non-exec director and consultancy role at AREA, as the team works on delivering a seamless integration to new and existing clients and suppliers. Fjeld will now be known as AREA.
Matthew Neal, director of AREA, said: “Procurement of key contract services is an integral part of any operational strategy for owner operators and investors alike, and by having this service line within AREA, it enables us to seamlessly offer consultancy throughout acquisitions and into operations and ultimately disposal, with the potential for huge cost savings throughout the process.”
Richard Servidei, AREA founder and director, added: “This acquisition is another step in our expansion programme which positions us as a unique lifecycle advisor to the living sector. With Fjeld on board, we’re raising the bar in how operational real estate is advised, procured and optimised.”
Dustin Fjeld (pictured) said: “AREA is one of the only advisers to be able to offer streamlined transactional and operational consulting to the rental living sector, with a reputation for forensic analysis and deep sector insight. By combining Fjeld’s market leading procurement expertise with AREA’s end to end advisory platform, we are now able to offer a combined seamless service across the entire asset lifecycle, identify opportunities, structuring deals, driving development visions forwards, creating value, solving challenges and delivering measurable cost efficiencies. In addition, for both parts of the business, we have a broader reach of clients to support – in all, AREA was the perfect fit for our team to join.”
