Colliers to acquire a leading commercial real estate company in Italy
Acquisition Adds Another Strong Company-Owned Operation in Key European Market
TORONTO and MILAN, October 27, 2021 / PRNewswire / – Colliers (NASDAQ: CIGI) (TSX: CIGI), a diversified leader in professional services and investment management, today announced that it has entered into an agreement to acquire a controlling interest in Colliers International Italia SpA, Colliers Real Estate Services Italia SRL and Colliers Real Estate Management Services Italia SRL (collectively, “Colliers Italy”), which was previously an affiliated operation. The current shareholders of Colliers Italy, Ofer Arbib and Giulia Longo, will retain a stake in the company as part of Colliers’ unique partnership model. As a company-owned business, Colliers Italy will continue to strengthen its leading position in the market by increasing its service capabilities and leveraging the vast resources of Colliers’ strong and highly innovative platform through Europe. The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2022. Details of the transaction were not disclosed.
Originally founded in 1996, Colliers Italy today has more than 80 professionals offering landlord agency, tenant representation, investment brokerage, property management, appraisal and project management services to clients. investors, developers and occupants of commercial real estate. Necklaces Italy is expected to generate around 16 million euros in revenue for the fiscal year ended December 31, 2021.
“Milan and Rome are key European markets with a combined population of over 4.3 million and home to almost all major Italian companies and investors, ”said Chris McLernon, CEO | EMEA for Necklaces. “Colliers Italy has a leading position in the market and an experienced team of highly respected professionals with in-depth knowledge of the Italian real estate landscape. This new partnership will allow Ofer and Giulia to continue their success and leverage the additional resources of the global company to better serve our customers nationally and internationally. “
“Given our long association with Colliers, this was a natural next step for our business. Their enterprising approach and partnership philosophy will provide us with better access to the broader Colliers platform to expand our capabilities and capitalize on the opportunities in our growing market ”, mentioned Giulia Longo, co-director of Colliers Italy.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. Present in 66 countries, our more than 15,000 enterprising professionals work together to provide expert advice to occupants, owners and real estate investors. For more than 25 years, our experienced leadership with significant insider participation has generated annual compound returns of almost 20% for shareholders. With annualized revenues of $ 3.3 billions ($ 3$ 0.6 billion including affiliates) and $ 45 billion in assets under management, we maximize ownership potential and accelerate the success of our customers and employees. Learn more about colliers.company.com, Twitter @Necklaces Where LinkedIn.
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