Colliers adds further scale to U.S. Property Management business
October 12 2022 - 4:05PM
Leading diversified professional services and investment management
firm Colliers (NASDAQ and TSX: CIGI) today announced it will
acquire a controlling interest in Arcadia Management Group, Inc.
(“Arcadia”), a leading commercial real estate property management
firm focused in the Southwest U.S. Arcadia’s senior leadership will
retain a direct equity stake in the business and continue to drive
operations going forward under Colliers’ unique partnership model.
Arcadia will rebrand as Colliers immediately following closing.
Details of the transaction were not disclosed.
Founded in Phoenix in 1986, Arcadia and its 150
professionals provide property management, property accounting
services, and project management to over 60 million square feet of
office, retail, and industrial properties in 24 states.
“Our strategic investment in Arcadia positions
Colliers as the leading property management firm in the important
and fast-growing Southwest U.S. market,” said Karen Whitt,
President, Real Estate Management Services of Colliers | U.S. “We
are excited to welcome this talented group of professionals to our
organization and look forward to helping them accelerate their
success – and that of their clients – as part of Colliers.”
“Arcadia has enjoyed tremendous success in our
36 years as an independent firm, and the natural next step for us
was to partner with a leading global brand and operating platform
with national and global capabilities and operating tools to better
meet the needs of our clients,” said Gary Shaw, Regional Managing
Director and Partner of Colliers Real Estate Management Services,
Arizona, Utah and Austin. “Both leadership teams recognized early
in the process that we share an entrepreneurial and collaborative
culture. We look forward to enhancing client service and helping
our professionals leverage the benefits of this world-class
organization.”
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading
diversified professional services and investment management
company. With operations in 63 countries, our 17,000 enterprising
professionals work collaboratively to provide expert real estate
and investment advice to clients. For more than 27 years, our
experienced leadership with significant inside ownership has
delivered compound annual investment returns of 20% for
shareholders. With annual revenues of $4.5 billion and $87 billion
of assets under management, Colliers maximizes the potential of
property and real assets to accelerate the success of our clients,
our investors, and our people. Learn more at
corporate.colliers.com, Twitter @Colliers or LinkedIn.
Company Contacts:
Christian MayerChief Financial Officer(416)
960-9500
Karen WhittPresident Real Estate Management
Services | U.S.(703) 650-5709
Colliers (NASDAQ:CIGI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Colliers (NASDAQ:CIGI)
Historical Stock Chart
From Jul 2023 to Jul 2024