Baltimore, Maryland

United Country Auction Services, a division of United Country Real Estate, Inc. (United Country), and Colliers International (Colliers) announced today a strategic alliance to provide accelerated commercial real estate transaction services to their respective commercial real estate clients.

Accelerated marketing of commercial real estate involves setting a specific date for the sale of an asset and completing a saturation marketing effort to promote the asset for sale at the predetermined date. Accelerated marketing events are generally completed through the auction or sealed bid process.

“It’s likely that a large number of commercial assets nationwide will need to be sold in the next 12 months, and auctions are an ideal solution when seller requirements dictate,” said Patrick Duffy, a Colliers International board member. “The auction event is an excellent vehicle to expose an asset for sale to motivated and capable buyers, establish urgency through the date-certain aspect of the process and obtain the best, most transparent price for the seller through a competitive bidding process. We believe combining the resources of our two organizations creates a unique opportunity for clients to realize current market value in a predictable time frame, so they can clean out their balance sheets, adjust their commercial real estate portfolios and turn their attention back to their core business.”

While auctions have been utilized regularly for unique luxury properties, farm and ranch land, fine art and collector automobiles, their use in commercial real estate transactions waned following the Resolution Trust Corporation (RTC) disposition market of the late 1980s and early 1990s. In recent years, however, the expediency and effectiveness of this sales and marketing method has reignited the popularity of auctions in commercial real estate sales.  In 2007, $15.7 billion of commercial and industrial real estate was sold via the auction method of marketing.

Mike Jones, president of United Country Auction Services, said, “As the nation’s largest integrated real estate auction network with 675 offices, 4,000 agents and more than 140 dedicated, experienced auction professionals, United Country brings the support platform, accelerated marketing and auction expertise to this effort.  With 11,000 employees in 61 countries, Colliers brings first-tier local commercial real estate expertise and global marketing reach. We believe that this team represents one of the most powerful asset-disposition platforms ever assembled for commercial real estate, and we are proud to be working with Colliers to offer this enhanced and differentiated solution to our collective client base.”

Colliers’ alliance with United Country Auction Services represents one of the tools deployed for clients by Colliers Asset Resolution Services, launched last month to respond to the demands and needs of banks, financial institutions and special servicers amid a dramatically changing commercial real estate marketplace.

The local affiliate of Colliers International is Colliers Pinkard, which has an Investment Services/Distressed Asset Group.  Jonathan Carpenter, Vice President, commented on the partnership, “The partnership allows us an even wider range of services.  Auctions are a niche service – that some owners may find themselves considering this year.  We’re very pleased to be partnered with a well-known and respected auction company to round out our service offerings.”

About Colliers Pinkard 

Colliers Pinkard recently completed the consolidation of its ownership structure with Colliers Turley Martin Tucker, Cassidy & Pinkard Colliers, and Colliers ABR, forming a holding company that is one of the nation’s largest commercial real estate service firms.  The consolidated entity completes more than $13 billion in worldwide transactions annually and manages more than $30 billion in real estate.  The holding company’s portfolio totals 300 million square feet under property management, 210 million square feet of space for lease, and $5 billion in capital markets transactions annually.  The Corporate Solutions division sustains more than 20,000 locations for Fortune 1,000 companies and delivers a new location “Every 80 Minutes.”

About Colliers International

Colliers International is a global affiliation of independently owned commercial real estate firms. The organization's 10,092 employees span the world in 267 offices in 57 countries. On a worldwide basis, Colliers manages 672,945,918 square feet, and has revenue of $US 1,620,958,349.

Contact Information

Liz Murphy
410.347.7810
lmurphy@collierspinkard.com 

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