SEATTLE, WA - FirstService Real Estate Advisors, a subsidiary of FirstService Corporation and Colliers CRE today announced that FirstService REA will become the cornerstone investor in Colliers CRE's recent equity offering. Continuing its aggressive growth strategy, this is FirstService REA's first significant move into Western Europe. With 15 offices in the UK, Ireland and Spain, Colliers CRE provides a broad range of real estate consultancy services throughout all of its markets.
"With FirstService REA's strong presence in Central, Eastern and Southeast Europe, Russia, Asia, Latin America and our growth in North America, this investment will greatly enhance our ability to efficiently and effectively service our global clients," said Douglas P. Frye, CEO and president of the global operations for FirstService REA. "Colliers CRE has an operating philosophy very similar to ours and the combination is a perfect fit."
"Colliers CRE, like FirstService REA, believes strongly in providing clients with advice and service of the highest quality through integrated specialist teams. This is what builds long-term relationships," said David Izett, Group Chief Executive of Colliers CRE. "Our operations, combined with FirstService REA's global footprint, establish another real alternative for multi-national firms."
FirstService REA will gain two seats on Colliers CRE's board and will input significantly to the day-to-day operations of the firm. With the investment in Colliers CRE, FirstService REA now has offices in most of the world's top commercial real estate markets, including London, New York, Moscow, Los Angeles, Hong Kong, Shanghai, Toronto, Washington, DC, Atlanta, and Sydney.
With more than 730 employees, over 300 of whom are Royal Institution of Chartered Surveyors (RICS) qualified, Colliers CRE provides a broad range of real estate services through its transactional, professional and consultancy divisions, including investment, leasing, tenant representation, valuation, property management and building consultancy, to both UK and international clients.
FirstService REA's investment in Colliers CRE is the latest of many recent announcements by the firm as it establishes a presence in new markets and hires some of the industry's top talent. Most recently, FirstService REA announced that it has established an office in Washington, DC to service the Capitol region and nearby Baltimore, Maryland. It also opened offices in Richmond, Virginia and Atlanta, Georgia.
Late last year, FirstService REA announced its acquisition of Manhattan-based GVA Williams (now FirstService Williams), which also has offices in New Jersey and Connecticut and has since opened an additional office in Westchester County, New York. Among recent hires at FirstService REA are Dylan Taylor, president of USA operations; Mike Kent, president of the US property management division; and Scott Nelson, president of client solution design.
Source: FirstService Real Estate Advisors