Acquisition of Beltway Real Estate Services Firm Strengthens Ongoing Commitment to the Region
TORONTO and WASHINGTON, Oct. 18, 2017 (GLOBE NEWSWIRE) — Leading global commercial real estate services firm Colliers International Group Inc. (NASDAQ:CIGI)(TSX:CIGI) announced today the acquisition of leading tenant representation advisory firm Serten Advisors. With its office in Tysons Corner, the firm serves global, national, and regional clients with a highly skilled and experienced team of professionals that have more than 100 years of combined experience.
“This strategic acquisition positions Colliers to gain additional market share and win new business in the vibrant and competitive Suburban DC markets,” said Marty Pupil, Colliers International President | U.S. Brokerage. “Adding Steve and Paul and the rest of their talented leadership team to our existing group of professionals in the region will further position Colliers as the commercial real estate services firm of choice for the region’s most successful companies.”
Founded by Steven Hubberman and Paul Schweitzer, Serten Advisors will bring 12 professionals to Colliers with experience in more than 150 markets throughout North America, advising clients on a range of commercial real estate matters, from national site searches to relocations and strategic portfolio management.
“By joining Colliers and leveraging the size and infrastructure of the Colliers global platform, we are better positioned than ever to serve the needs of our clients,” said Steven Hubberman and Paul Schweitzer. “Our core values and entrepreneurial spirit are fully aligned with the unique enterprising culture at Colliers and we look forward to better serving our global clients and helping our professionals leverage the other benefits of this world-class organization.”
“The Beltway is changing, and adding a team of advisors with institutional level market knowledge and experience is a big win for us,” said Joe Harbert, Colliers International President | Eastern Region. “Along with our Regional Managing Director and Market Leader David Parker, we are poised for exponential growth in the region.”
About Colliers International
Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI) is an industry-leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 12 consecutive years, more than any other real estate services firm. Colliers also has been ranked the top property manager in the world by Commercial Property Executive for two years in a row.
Advisory Regarding Forward-Looking Information
Certain information included in this news release is forward-looking, within the meaning of applicable securities laws. Much of this information can be identified by words such as “believe”, “expects”, “expected”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “continues” or similar expressions suggesting future outcomes or events. Colliers believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.
Forward-looking statements are based on current information and expectations that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those anticipated. These risks include, but are not limited to, risks associated with: (i) general economic and business conditions, which will, among other things, impact demand for Colliers’ services and the cost of providing services; (ii) the ability of Colliers to implement its business strategy, including Colliers’ ability to identify and acquire suitable acquisition candidates on acceptable terms and successfully integrate newly acquired businesses with its existing businesses; (iii) changes in or the failure to comply with government regulations; and (iv) such factors as are identified in the Annual Information Form of Colliers for the year ended December 31, 2016 under the heading “Risk Factors” (which factors are adopted herein and a copy of which can be obtained at www.sedar.com). Forward looking statements contained in this news release are made as of the date hereof and are subject to change. All forward-looking statements in this news release are qualified by these cautionary statements. Except as required by applicable law, Colliers undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
John B. Friedrichsen
Chief Financial Officer
President | U.S. Brokerage