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FirstService adds Euro leader to its ranks.

FirstService Corporation has completed its purchase of a 29.99% interest in London-based Colliers CRE plc, a commercial real estate consultancy service practice group with operations in the United Kingdom, Ireland and Spain.

The terms of the transaction were not disclosed.

The ownership stake in Colliers CRE establishes FirstService's commercial real estate services platform in Europe's preeminent financial center which will drive expansion of the company's portfolio of services in global markets Colliers CRE is a leading player in commercial real estate services in the UK and trusted advisor to many multinational companies based in London and throughout the UK.

FirstService Real Estate Advisors also leads the $1.8 billion "Colliers International" global partnership operating in 61 countries around the world.

FirstService Real Estate Advisors, including Colliers International, is the third largest commercial real estate services firm in the world.

"Becoming the largest shareholder of Colliers CRE was a key strategic move providing us with an important new hub in London while strengthening our ability to deliver the highest quality real estate advisory and transaction services to our multinational clients," said Doug Frye, chairman of Colliers International and president and CEO of FirstService Real Estate.

"The investment in Colliers CRE further demonstrates our commitment to build competitive advantage in global markets during this time of opportunity," added Jay S. Hennick, founder and CEO of FirstService.
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Comment:FirstService adds Euro leader to its ranks.
Publication:Real Estate Weekly
Date:Nov 4, 2009
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