SEATTLE, Canada

FirstService Real Estate Advisors (“FirstService REA”), a subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), and Colliers CRE today announced that FirstService REA will become the cornerstone investor in Colliers CRE’s recent equity offering. Continuing its aggressive growth strategy, this is FirstService REA’s first significant move into Western Europe. With 15 offices in the UK, Ireland and Spain, Colliers CRE provides a broad range of real estate consultancy services throughout all of its markets.

“With FirstService REA’s strong presence in Central, Eastern and Southeast Europe. Russia, Asia, Latin America and our growth in North America, this investment will greatly enhance our ability to efficiently and effectively service our global clients,” said Douglas P. Frye, CEO and president of the global operations for FirstService REA.  “Colliers CRE has an operating philosophy very similar to ours and the combination is a perfect fit.”

“Colliers CRE, like FirstService REA, believes strongly in providing clients with advice and service of the highest quality through integrated specialist teams. This is what builds long-term relationships.” said David Izett, Group Chief Executive of Colliers CRE. “Our operations, combined with FirstService REA’s global footprint, establish another real alternative for multi-national firms.”

FirstService REA will gain two seats on Colliers CRE’s board and will input significantly to the day-to-day operations of the firm. With the investment in Colliers CRE, FirstService REA now has offices in most of the world’s top commercial real estate markets, including London, New York, Moscow, Los Angeles, Hong Kong, Shanghai, Toronto, Washington, DC, Atlanta, and Sydney.

With more than 730 employees, over 300 of whom are Royal Institution of Chartered Surveyors (RICS) qualified, Colliers CRE provides a broad range of real estate services through its transactional, professional and consultancy divisions, including investment, leasing, tenant representation, valuation, property management and building consultancy, to both UK and international clients.  

The Colliers CRE Group comprises:

• Colliers CRE, the UK surveying firm, including Colliers Robert Barry, the hotels specialist; Colliers Godfrey Vaughan, the Central London office specialist; Colliers Capital, the fund management division; Locum Destination Consulting and Deanwater Estates property co-investment
• Colliers International in Spain, and
• Colliers Jackson-Stops in the Republic of Ireland.

About FirstService Real Estate Advisors

FirstService Real Estate Advisors (“FirstService REA”) is the emerging leader in the global professional services industry. As the fastest growing and fourth largest commercial real estate services firm in the world, FirstService REA has strategically integrated industry leading service providers in key areas of specialization to deliver consistent and measurable results for occupiers, developers and investors in real estate. FirstService REA operates in 37 countries around the world. In North America, FirstService REA provides services through the leading real estate brands; FirstService REA, Colliers International, FirstService Williams, PGP Valuation, PKF Hospitality, and MHPM Project Leaders. 

FirstService REA owns and operates through the Colliers International brand throughout Central and Eastern Europe with 23 offices in 13 countries, including the Netherlands, Czech Republic, Slovakia, Hungary, Croatia, Romania, Serbia, Bulgaria, Albania, Montenegro, Greece, Russia and Ukraine. 

About FirstService Corporation

FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U) is a global diversified leader in the rapidly growing property services sector, providing services in the following three areas: commercial real estate, residential property management; and property services. The industry-leading service platform includes: FirstService Real Estate Advisors, the fourth largest global player in commercial real estate services; FirstService Residential Management, the largest manager of residential communities in North America; and TFC, North America’s largest provider of property services through franchise and contractor networks.

More information is available at www.firstservice.com.

Contact Information

Olesia Tsvil

Marketing/PR manager

044 499 0000 (int. 165)

 back to top