Adds another market-leading operation in four key Midwestern markets
TORONTO AND CINCINNATI, March 7, 2022 – Leading diversified professional services and investment management firm Colliers (NASDAQ and TSX: CIGI) today announced the acquisition of Colliers Greater Cincinnati and Colliers Cleveland (“Colliers | Greater Cincinnati - Dayton” and “Colliers | Cleveland – Akron”), which were previously affiliate operations. As company-owned operations, Colliers | Greater Cincinnati – Dayton and Colliers | Cleveland – Akron will be able to continue to build on their market leadership by increasing service capabilities and leveraging the resources of Colliers’ growing and innovative platform. Details of the transaction were not disclosed.
Founded in 1958, Colliers Cincinnati has been one of the leading commercial real estate services firms in Greater Cincinnati. Under the Colliers brand, it expanded into Cleveland in 2012. With more than 100 professionals, the operations provide landlord agency, tenant representation, investment sales brokerage, property management, and project management services to investors, developers, and occupiers of commercial real estate.
“Cincinnati’s and Cleveland’s diverse economies, low cost of living, strategically advantageous locations, and well-educated populations make these cities an important part of our strategic growth plan for the Midwest,” said Ryan Kratz, Colliers President, Southeast and Mid-Central Regions | U.S. Brokerage.
“Colliers | Greater Cincinnati – Dayton and Colliers | Cleveland – Akron have a team of highly respected and experienced professionals who have built outstanding reputations. This acquisition will allow the businesses to grow their presence and benefit from the full suite of service capabilities under the Colliers umbrella.”
“Integrating into Colliers was a natural next step that will allow us to capitalize on more opportunities in our two markets,” said Shenan Murphy, Vice Chairman of Colliers | Greater Cincinnati – Dayton and Colliers | Cleveland – Akron. “We look forward to accelerating our growth and continuing our success story by being a part of Colliers’ highly respected, global platform and leveraging its size, capital, established infrastructure, and industry leadership.”
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 64 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.1 billion and more than $50 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors, and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
Chief Financial Officer
President, Southeast and Mid-Central Regions | U.S. Brokerage