Integration of Miami-based, market-leading property management firm positions company in key gateway to Latin America and the world
TORONTO, CANADA, August 5, 2015 - Leading global commercial real estate services firm Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) today announced the acquisition of Pointe Group Advisors, a market-leading commercial real estate services firm specializing in property management, project management and sales and lease brokerage. The firm was founded in 2003 by Peter Gardner, who will continue to lead Colliers property management operations in South Florida. This acquisition brings an extensive portfolio of more than 7 MSF of office, industrial and retail space in South Florida and more than 70 professionals operating from two offices in the state. Details of the transaction were not disclosed.
"We've been committed to expanding our operations in South Florida, and this is another major step forward," said Craig Robinson, President of Colliers International | USA. "The integration of Pointe Group Advisors' highly experienced team of professionals will not only strengthen our local operations but also continue to position Colliers in the region that serves as a key gateway to Latin America and the world."
"This acquisition will add significant scale to our South Florida operations, particularly our property management capability, which will further enable us to focus on growing relationships and expanding our services to clients in this important and thriving region," added Karen Whitt, President of Investor Services & Real Estate Management Services | USA at Colliers International.
"While we have enjoyed tremendous success as an independent firm, we are increasingly competing in a global environment where clients require a comprehensive worldwide platform and industry-leading tools in order to serve them consistently over many geographic regions," said Gardner. "By joining Colliers, we are part of a team that is culturally aligned to ours and is ideally positioned to continue exceling in the Florida market by leveraging the Colliers global brand, infrastructure and relationships."
In recent years, South Florida has emerged as a prime U.S. market for commercial real estate, with Miami considered among the top international destinations. Recognizing the ongoing potential in this market, Colliers has implemented a strategic expansion plan in South Florida by enhancing services and fostering the development of talent and relationships in the region. Colliers International serves clients in Florida, along with international clients that want to operate in South Florida to easily link to Latin America.
About Colliers International Group
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is a global leader in commercial real estate services with more than 16,300 professionals operating from 502 offices in 67 countries. With an enterprising culture and significant inside ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals' Global Outsourcing for 10 consecutive years, more than any other real estate services firm.
For the latest news from Colliers International, visit Colliers.com or follow us on Twitter (@ColliersIntl) and LinkedIn.
Advisory Regarding Forward-Looking Information
Information in this press release that is not a historical fact is "forward-looking information". Words such as "plans", "intends", "outlook", "expects", "anticipates", "estimates", "believes", "likely", "should", "could", "will", "may" and similar expressions are intended to identify statements containing forward-looking information. Forward-looking information in this press release is based on current objectives, strategies, expectations and assumptions which management considers appropriate and reasonable at the time. The forward-looking information in this press release includes, but is not limited to, statements with respect to the expected future attributes of Colliers.
By its nature, forward-looking information is subject to risks and uncertainties which may be beyond the ability of Colliers to control or predict. The actual results, performance or achievements of Colliers could differ materially from those expressed or implied by forward-looking information. Factors that could cause actual results, performance, achievements or events to differ from current expectations include, among others, risks and uncertainties related to: the operations and financial condition of Colliers as a separately traded public company; business cycles, including general economic conditions in the countries in which Colliers operates, which will, among other things, impact demand for services and the cost of providing services; the ability of Colliers to implement its business strategy, including its ability to acquire suitable acquisition candidates on acceptable terms and successfully integrate newly acquired businesses with its existing businesses; changes in or the failure to comply with government regulations; changes in foreign exchange rates; increased competition; credit of third parties; changes in interest rates; and the availability of financing. Additional information on certain of these factors and other risks and uncertainties that could cause actual results or events to differ from current expectations can be found in Old FirstService's Annual Information Form for the year ended December 31, 2014 under the heading "Risk Factors" (which factors are adopted herein and a copy of which can be obtained at www.sedar.com). Certain risks and uncertainties specific to the arrangement transaction, Colliers and New FirstService are further described in the Management Information Circular of Old FirstService dated March 16, 2015. Other factors, risks and uncertainties not presently known to Colliers or that Colliers currently believes are not material could also cause actual results or events to differ materially from those expressed or implied by statements containing forward-looking information.
Readers are cautioned not to place undue reliance on statements containing forward-looking information that are included in this press release, which are made as of the date of this press release, and not to use such information for anything other than their intended purpose. Colliers disclaims any obligation or intention to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
Colliers International Acquires Pointe Group Advisors
Date Published: 08/05/2015