Acquisition of Preeminent Brokerage and Management Firm Strengthens Leadership and Service Offering
TORONTO and MIAMI, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Leading global commercial real estate services and investment management firm Colliers International Group Inc. (NASDAQ and TSX: CIGI) today announced the acquisition of Continental Real Estate Companies Commercial Properties Corp. (“CREC”), a market-leading commercial real estate services firm specializing in property management, project management and sales and lease brokerage. Founded in 1989 by Warren Weiser and Carol Greenberg Brooks, this acquisition brings an extensive portfolio of more than 12.6 million square feet of office, industrial and retail space in Florida and more than 100 professionals operating from three offices throughout the state to Colliers. Terms of the transaction were not disclosed.
“This strategic acquisition positions Colliers as the top management and retail brokerage firm in the vibrant South Florida market,” said Ryan Kratz, President, Southeast Region | U.S. Brokerage for Colliers International. “Adding Warren and Carol and their talented group of professionals to our company sets Colliers apart as the commercial real estate services firm of choice for the region’s most successful companies.”
“While we have enjoyed tremendous success as an independent firm, we are increasingly competing in a global environment where clients require a comprehensive international platform and industry-leading tools in order to provide them with the service they require,” said Warren Weiser.
“We are thrilled to join Colliers and be part of a team that is aligned with our entrepreneurial culture and focus on service excellence. We are now ideally positioned to accelerate our growth in the Florida market by leveraging the Colliers global brand, infrastructure and relationships,” added Carol Greenberg Brooks.
“This addition is the fifth strategic acquisition we have completed in the U.S. this year, all of which have strengthened and diversified our operations to better serve our clients,” said Dylan Taylor, President and COO of Colliers International. “Our objective continues to be focused on elevating the Colliers International platform and remaining the most enterprising and entrepreneurial company in the industry with professionals who thrive in a culture that helps accelerate their success.”
About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is a top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 13,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $25 billion of assets under management from the world’s most respected institutional real estate investors.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers is ranked the number one property manager in the world by Commercial Property Executive for two years in a row.
Colliers is led by an experienced leadership team with significant equity ownership and a proven record of delivering more than 20% annualized returns for shareholders, over more than 20 years.
John B. Friedrichsen
Chief Financial Officer
President Southeast Region | U.S. Brokerage