Colliers to acquire market leading commercial real estate firm in Italy
October 27 2021 - 7:00AM
Leading diversified professional services and investment management
company, Colliers (NASDAQ and TSX: CIGI), announced today it has
entered into an agreement to acquire a controlling interest in
Colliers International Italia S.p.A., Colliers Real Estate Services
Italia S.R.L. and Colliers Real Estate Management Services Italia
S.R.L. (collectively, “Colliers Italy”), which was previously an
affiliate operation. The current shareholders of Colliers Italy,
Ofer Arbib and Giulia Longo, will retain an equity interest in the
business under Colliers’ unique partnership model. As a
company-owned operation, Colliers Italy will continue to build on
its market leadership position by increasing service capabilities
and leveraging the vast resources of Colliers’ strong and highly
innovative platform across Europe. The transaction is subject to
customary closing conditions and is expected to close in the first
quarter of 2022. Details of the transaction were not disclosed.
Originally founded in 1996, Colliers Italy has grown to over 80
professionals providing landlord agency, tenant representation,
investment sales brokerage, property management, valuation and
project management services to investors, developers and occupiers
of commercial real estate. Colliers Italy is expected to generate
approximately €16 million of revenues for the year ending December
31, 2021.
“Milan and Rome are key European markets with a combined
population of over 4.3 million and home to nearly all major Italian
businesses and investors,” said Chris McLernon, CEO | EMEA for
Colliers. “Colliers Italy has a market leading position and an
experienced team of highly respected professionals with extensive
knowledge of the Italian real estate landscape. This new
partnership will allow Ofer and Giulia to continue their success
and leverage the additional resources of the global business to
better serve our clients domestically and internationally.”
“Given our long association with Colliers, this was a natural
next step for our firm. Their enterprising approach and partnership
philosophy will provide us with greater access to the broader
Colliers platform to expand our capabilities and capitalize on the
opportunities in our growing market,” said Giulia Longo,
co-principal of Colliers Italy.
A Media Snippet accompanying this announcement is available by
clicking on the image or link below:
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading
diversified professional services and investment management
company. With operations in 66 countries, our more than 15,000
enterprising professionals work collaboratively to provide expert
advice to real estate occupiers, owners and investors. For more
than 26 years, our experienced leadership with significant insider
ownership has delivered compound annual investment returns of
almost 20% for shareholders. With annualized revenues of
$3.3 billion ($3.6 billion including affiliates) and
$45 billion of assets under management, we maximize the
potential of property and accelerate the success of our clients and
our people. Learn more at corporate.colliers.com,
Twitter @Colliers or LinkedIn.
Company Contacts:
Christian MayerChief Financial Officer(416) 960-9500
Chris McLernonCEO | EMEA(44) 20 7487 7000
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