TORONTO and NORFOLK, Va., Jan. 04, 2019 (GLOBE NEWSWIRE) -- Leading global commercial real estate services firm
Colliers International Group Inc. (NASDAQ and TSX: CIGI) today announced it has closed its previously announced acquisition of a
majority interest in the operations of the former affiliate of CBRE Group Inc, in Central and Southeast Virginia (“The Company”).
The Company’s four offices in Richmond, Norfolk, Charlottesville and Fredericksburg (together “Colliers Virginia”) will be
rebranded as Colliers International immediately. The current shareholders of the Company continue to retain equity in the business
under the unique Colliers partnership model. Terms of the transaction were not disclosed.
Founded in 1983, Colliers Virginia’s 340 professionals oversee a 58-million-square-foot asset services portfolio
and completed more than $1.8 billion in sale and lease transactions during 2018 for owner and occupier clients. Colliers Virginia
is the dominant market player in commercial real estate services in the Commonwealth as well as a leading provider of asset
services to General Services Administration-leased asset investor clients throughout the country.
“We are thrilled to join a company like Colliers whose core principles and values align perfectly with our
enterprising culture and focus on service excellence,” said Scott Adams, President of Colliers Virginia. “We look forward to the
opportunity to fully leverage our collective scale, resources and international infrastructure to continue our growth, and
accelerate the success of our clients and professionals.”
“Colliers continues to attract the best and brightest talent in the industry as exemplified by our new
partnership with the market leading platform in Virginia,” said Ryan Kratz, President, Southeast Region | U.S. Brokerage for
Colliers International. “Our objective continues to be to elevate the Colliers International platform as the global firm of choice
for successful organizations anywhere they do business, and for professionals who thrive within an enterprising and entrepreneurial
culture.”
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.
For the latest news from Colliers, visit Colliers.com or follow us on Twitter: @Colliers and LinkedIn.
COLLIERS CONTACTS:
John B. Friedrichsen
Chief Financial Officer
(416) 960-9500
Ryan Kratz,
President, Southeast Region | U.S. Brokerage
(813) 221-2290
