Colliers International Merges with FirstService REA
OREANDA-NEWS. January 8, 2010. Colliers International and FirstService Real Estate Advisors announced on January 4th that it will combine their operations and global real estate services platforms. The combined entity will assume FirstService REA’s operating and partnership model and operate as Colliers International in 61 countries around the world.
With this announcement, Colliers International is now commercial real estate’s third largest real estate services firm worldwide. As it completes the transition from a network to a centrally owned and operated firm, FirstService REA increases its control of Colliers International to approximately 70 percent globally while local Colliers operators continue to own the balance of the equity.
In the past few years, FirstService REA has expanded globally, acquiring significant equity interests in Colliers International operations in the UK, Ireland, Spain, Russia and several other countries in Western and Eastern Europe and Asia Pacific.
The fully integrated Colliers International business employs more than 15,000 people in 480 offices in 61 countries, and generates in excess of USD 1.9 bn in revenues annually.
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