13:21:09 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Colliers International Group Inc
Symbol CIGI
Shares Issued 41,960,236
Close 2022-10-12 C$ 127.40
Market Cap C$ 5,345,734,066
Recent Sedar Documents

Colliers to acquire controlling interest in Arcadia

2022-10-12 16:29 ET - News Release

Ms. Karen Whitt reports

COLLIERS ADDS FURTHER SCALE TO U.S. PROPERTY MANAGEMENT BUSINESS

Colliers International Group Inc. will acquire a controlling interest in Arcadia Management Group Inc., a leading commercial real estate property management firm focused in the Southwest United States. Arcadia's senior leadership will retain a direct equity stake in the business and continue to drive operations going forward under Colliers's unique partnership model. Arcadia will rebrand as Colliers immediately following closing. Details of the transaction were not disclosed.

Founded in Phoenix in 1986, Arcadia and its 150 professionals provide property management, property accounting services and project management to over 60 million square feet of office, retail and industrial properties in 24 states.

"Our strategic investment in Arcadia positions Colliers as the leading property management firm in the important and fast-growing Southwest U.S. market," said Karen Whitt, president, real estate management services of Colliers, U.S. "We are excited to welcome this talented group of professionals to our organization and look forward to helping them accelerate their success -- and that of their clients -- as part of Colliers."

"Arcadia has enjoyed tremendous success in our 36 years as an independent firm, and the natural next step for us was to partner with a leading global brand and operating platform with national and global capabilities and operating tools to better meet the needs of our clients," said Gary Shaw, regional managing director and partner of Colliers real estate management services, Arizona, Utah and Austin. "Both leadership teams recognized early in the process that we share an entrepreneurial and collaborative culture. We look forward to enhancing client service and helping our professionals leverage the benefits of this world-class organization."

About Colliers International Group Inc.

Colliers is a leading diversified professional services and investment management company. With operations in 63 countries, its 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, the company's experienced leadership with significant inside ownership has delivered compound annual investment returns of 20 per cent for shareholders. With annual revenues of $4.5-billion and $87-billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of its clients, its investors and its people.

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