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Colliers International

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Colliers International Group Inc.
Colliers
Company typePublic
IndustryReal estate
Founded1976; 48 years ago (1976)
HeadquartersToronto, Ontario, Canada
Area served
Worldwide
Key people
ProductsReal estate investment, brokerage and management
RevenueDecrease US$4.34 billion (2023)
Decrease US$301 million (2023)
Increase US$65.5 million (2023)
AUMIncrease US$98.2 billion (2023)
Total assetsIncrease US$5.48 billion (2023)
Total equityIncrease US$850 million (2023)
Number of employees
19,230 (2023)
Subsidiaries
Websitecolliers.com
Footnotes / references
[1][2]
Colliers for lease sign in North America

Colliers International Group Inc. is a Canada-based diversified professional services and investment management company with approximately 18,000 employees in more than 400 offices in 65 countries.[3]

The firm provides services to commercial real estate users, owners, investors and developers; they include consulting, corporate facilities, investment services, landlord and tenant representation, project management, urban planning, property and asset management, and valuation and advisory services. The organization serves the hotel, industrial, mixed-use, office, retail and residential property sectors.[4]

The firm has headquarters in Toronto, Ontario. Annual revenues were $4.09 billion in 2021.[5] In June 2015, it was announced that Jay S. Hennick was appointed chairman and chief executive officer.[6]

History

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Colliers began in Australia in 1976 after Glynn Lynch & McHarg and Jones Lang Wootten & Sons merged under the Colliers name.[7][8][9][10] In 1978, Colliers merged with Hong Kong–based Tony Petty & Associates.[7]

In 1984, Colliers merged with Macaulay Nicolls.[11] The following year, the company merged with American Realty Services Group.[7] In 1992, the company merged with Jardines, a British firm.[7]

In 2004, FirstService Corporation bought a controlling interest in Colliers Macaulay Nicolls, Colliers' largest member.[10][12] After gaining controlling interest, Macaulay Nicolls became First Service REA.[10]

In 2006, FirstService purchased a majority stake in PGP Valuation and merged with the appraisal arm of Colliers Macaulay Nicolls.[13] In 2007, FirstService acquired an 80 percent stake in PKF Hotel and Hospitality Consulting[14] and a 60 percent stake in MHPM Project Managers.[15][16]

In September 2008, FirstService purchased a 65 percent stake in GVA Williams.[17][18] In 2009, FirstService gained control of Colliers after acquiring large shareholders.[12] In October, Colliers invested in Colliers CRE, a London-based real estate services company.[19]

In January 2010, the merger of Colliers and FirstService was announced.[10] Following the merger in April 2010, Dylan Taylor became president and CEO of Colliers International's US operations.[10] Also in April, Colliers invested in Colliers Bennett & Kahnweiler and West Shell Commercial in Cincinnati, Ohio.[20][21] The following month, Adena Commercial, a real estate firm in Columbus, Ohio, and Grubb & Ellis Paramount Commerce in Grand Rapids, Michigan, began working with Colliers International.[22][23] In June 2010, Colliers partnered with Sutton & Edwards, a real estate firm in Long Island, New York.[24]

In July 2014, PKF Consulting was sold to CBRE Group.[25][26] In June 2015, Colliers International and FirstService Corporation separated into two independent, publicly traded companies – Colliers International Group Inc. and FirstService Corporation.[11][27]

In September 2016, Stephen Harper, Canada's former Conservative Prime Minister, was appointed to the company's board.[28]

In October 2017, Colliers acquired Serten Advisors, LLC; a tenant representation firm headquartered in the Washington, D.C., area.[29]

In September 2019, Colliers acquired Synergy Property Development Services, an Indian real estate company.[30]

In December 2019, Colliers acquired certain divisions of Doughtery Financial based in Minneapolis.[31]

In July 2020, Colliers acquired Maser Consulting P.A., a multi-discipline engineering design services firm based in New Jersey.[32]

Business model

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In 2010, Colliers consolidated its franchises under a single name, hoping to increase their market share, according to the New York Times.[33] On 1 June 2015 First Services and Colliers split into two independent publicly traded entities.[34] Colliers is a full service real estate brokerage firm that operates in 67 countries and is traded on the NASDAQ stock market exchange under the symbol CIGI.

Financial results

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In 2009, Colliers ranked second out of the top twenty-five brokerages in the global real estate industry, based on its combined dollar value of leasing transactions and investment sales globally.[35] The survey also found that Colliers International had posted an increase of more than 28 percent over its 2008 ranking when it was fifth.[35]

In March 2010, the annual Lipsey Survey of the top 25 brands in the commercial real estate industry worldwide ranked Colliers in second.[36] The firm had held the third-place position in that survey since 2004.[36]

In 2018 and 2019, Colliers was ranked third on the annual Lipsey Survey of the Top 25 Commercial Real Estate Brands.[37]

See also

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References

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  1. ^ "2023 Annual Information Form". U.S. Securities and Exchange Commission. 15 February 2024.
  2. ^ "2023 Consolidated Financial Statements". U.S. Securities and Exchange Commission. 15 February 2024.
  3. ^ "Colliers International to spin off as publicly traded company - Puget Sound Business Journal". Puget Sound Business Journal. Retrieved 21 May 2015.
  4. ^ "Industry Experts Who Collaborate and Deliver". Colliers International. Retrieved 25 September 2017.
  5. ^ "Colliers Reports Very Strong Fourth Quarter Results". finance.yahoo.com. 10 February 2022. Retrieved 15 February 2022.
  6. ^ "Jay S. Hennick Appointed Chairman & Chief Executive Officer of Colliers International Group Inc". GlobeNewswire (Press release).
  7. ^ a b c d "McHarg has Gold Coast in sights". The Australian. 11 September 2014. Retrieved 28 August 2020.
  8. ^ Jones, Jeanne (14 December 2010). "Colliers International ranks No. 2". Puget Sound Business Journal.
  9. ^ "$10bn man is still the first among equals". The Age. 17 September 2005. Retrieved 28 August 2020.
  10. ^ a b c d e Mooore, Paula (4 April 2010). "Colliers' merger big for Denver". Denver Business Journal.
  11. ^ a b Bhatt, Sanjay (21 April 2015). "Split-off OK'd for Seattle-based Colliers International brokerage". The Seattle Times. Retrieved 28 August 2020.
  12. ^ a b Duggan, Daniel (24 April 2011). "Colliers ends chaos: Firm eyes return from 50-broker loss". Crain's Detroit Business. Retrieved 28 August 2020.
  13. ^ "Commercial appraisal firms merge". Pacific Business News. 30 November 2006.
  14. ^ Maurino, Romina (30 January 2007). "FirstService raises forecast, eyes acquisitions". The Star. Retrieved 28 August 2020.
  15. ^ "FirstService acquisitions set to hike revenue". Reuters. 22 January 2007. Retrieved 28 August 2020.[dead link]
  16. ^ Plumb, Tierney (4 January 2010). "Colliiers, FirstService form mega real estate firm". Washington Business Journal.
  17. ^ Agovino, Theresa (16 September 2008). "Majority stake in GVA Williams sold". Crain's New York.
  18. ^ "History of GVA Williams". Real Estate Weekly. 12 October 2005.
  19. ^ Whitmore, James (9 October 2009). "FirstService rides in to support Colliers CRE". Property Week. Retrieved 28 August 2020.
  20. ^ Corfman, Thomas A. (19 April 2010)."Colliers Bennett & Kahnweiler sells minority stake." Crain's Chicago Business.
  21. ^ "West Shell Commercial joins Colliers." Business Courier of Cincinnati. 27 April 2010.
  22. ^ "Real-estate offices are realigning". The Columbus Dispatch. Retrieved 28 August 2020.
  23. ^ Knape, Chris (26 April 2010). "Grand Rapids' Grubb & Ellis teams up with Colliers, third largest commercial realty firm". mlive. Retrieved 28 August 2020.
  24. ^ Comtois, James (14 June 2010). "Colliers snaps up Long Island outfit". Crain's New York Business. Retrieved 28 August 2020.
  25. ^ "The acquisition of PKF Consulting USA, LLC, a leading advisory, consulting and research firm specializing in the lodging industry, significantly strengthens CBRE's objective of becoming the top global intermediary in hospitality services." Hospitality Net. 17 July 2014.
  26. ^ "Plots & Ploys". Wall Street Journal. 15 July 2014. ISSN 0099-9660. Retrieved 28 August 2020.
  27. ^ Ashworth, Will (29 May 2017). "First Service Corporation or Colliers International Group Inc.: Which Is the Better Buy?". Yahoo Finance. Retrieved 28 August 2020.
  28. ^ "Former PM Harper appointed to board at Colliers International". Calgary Herald. 16 September 2016. Retrieved 28 August 2020.
  29. ^ Sernovitz, Daniel (18 October 2017). "Colliers International acquires one of Greater Washington's largest tenant-rep fiirms". Washington Business Journal.
  30. ^ "Colliers International acquires Bengaluru-based Synergy Property Development Services". Business Standard India. 18 September 2019. Retrieved 28 August 2020.
  31. ^ St. Anthony, Neal (23 December 2019). "Colliers takes big stake in Dougherty Financial". Star Tribune. Retrieved 28 August 2020.
  32. ^ "Colliers International completes acquisition of Maser Consulting". Colliers. 13 July 2020. Retrieved 2 April 2021.
  33. ^ Satow, Julie (15 June 2010). "Commercial Firms Fight Back in a Post-Boom World". The New York Times. Archived from the original on 13 September 2012. Retrieved 2 March 2022.
  34. ^ "Colliers International Becomes an Independent Public Company". Colliers. Archived from the original on 2 March 2022. Retrieved 2 March 2022.
  35. ^ a b "Top 25 Brokerages." Archived 16 December 2010 at the Wayback Machine National Real Estate Investor. 1 April 2010.
  36. ^ a b "2010 Top Commercial Real Estate Brands Survey." The Lipsey Company.
  37. ^ "Lipsey's 2019 Top 25 Commercial Real Estate Brand Survey" (PDF).
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