14:14:39 EDT Thu 28 Mar 2024
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or Name
USA
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Colliers International Group Inc
Symbol CIGI
Shares Issued 41,597,348
Close 2022-12-06 C$ 122.79
Market Cap C$ 5,107,738,361
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Colliers acquires Belgian real estate company Belsquare

2022-12-06 09:07 ET - News Release

Mr. Christian Mayer reports

COLLIERS EXPANDS OFFERING IN BELGIUM

Colliers International Group Inc. has acquired a majority interest in Belsquare SRL, a leading Belgian commercial real estate adviser with offices in Brussels and Antwerp. Belsquare will be rebranded as Colliers and merged with Colliers's existing operations in Belgium. Belsquare's senior management team will lead Colliers Belgium and retain a significant equity stake going forward under Colliers's unique partnership model. The terms of the transaction were not disclosed.

Founded in 2013, Belsquare brings an outstanding team of transactional experts that will strengthen Colliers's presence in the region. The combined Colliers Belgium operations will have more than 70 professionals and offer a full suite of services for clients, including capital markets advisory, leasing, valuation, project management and property management.

"Building on our current capabilities in project management and property management, this partnership adds a market-leading transactional business and provides Colliers with a full suite of capabilities to service our national and international clients," said Davoud Amel-Azizpour, chief executive officer of Colliers, EMEA (Europe, the Middle East and Africa). "This is the latest investment in a series of strategic acquisitions in EMEA that demonstrates our growth throughout Europe."

"Our partnership with Colliers is a logical next step in the firm's evolution as we share Colliers's enterprising culture and commitment to service excellence," said David Vermeesch, co-founder and managing partner of Belsquare. "We will benefit from the Colliers's global brand, platform and relationships, which positions us to accelerate our combined growth over the coming years. We are extremely excited and look forward to being part of a diversified and resilient firm like Colliers," added Charles Lasserre, co-founder and managing partner of Belsquare.

About Colliers International Group Inc.

Colliers is a leading diversified professional services and investment management company. With operations in 63 countries, its 18,000 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 approximately 20 per cent for shareholders. With annual revenues of $4.6-billion and $92-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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