NEW YORK, Dec 22, 2015 — Leading global commercial real estate services firm Colliers International Group Inc. (“Colliers”) (NASDAQ:CIGI, TSX:CIG) today announced the acquisition of the brokerage operations of NAI Norris, Beggs & Simpson (“NBS’), one of Portland’s most prominent commercial real estate firms. For over 80 years, NBS has provided extensive real estate advisory services to a broad range of clients across multiple property types including office, industrial, retail, multifamily and land. Terms of the transaction were not disclosed.
This acquisition, one of the most significant in Portland’s history, establishes Colliers as the market leader in Portland. The entire team of commercial real estate professionals will join Colliers creating the dominant local platform across multiple services and property types and all offices will immediately rebrand as Colliers International. Norris, Beggs & Simpsons’ other business lines including real estate finance and its Morrison Street Capital operations are not part of the deal.
“We are very excited about the integration of our teams and the new opportunities they create,” said David Kotansky, Managing Director, Colliers International I Portland. “The combination of our businesses and the collaboration of our people will provide clients with deep expertise in the local markets, access to the Colliers International global platform and the highest level of services available in the industry.”
“While it was a difficult decision to sell our brokerage services, the result is a win-win situation for all parties, particularly our clients,” said Jan Robertson, CEO of Norris, Beggs & Simpson. “Clients will continue to benefit from the exceptional local expertise of our advisors they have come to depend upon, combined with the added strength of the Colliers innovative national and global platform,” she concluded.
Chris Johnson, former president of brokerage operations of NBS will join Colliers as Executive Vice President, commented, “After nearly 30 years at the same company, I am extremely excited about the move to Colliers and am already seeing the benefits of their strong global platform and the resources we can now access.
“When Colliers is looking to expand our operations in any market, the most crucial factor is cultural fit,” said Craig Robinson, President of Colliers International USA. “Bringing together the heritage and deep local market expertise of Chris and his team with the global strength and depth of services that Colliers offers is a winning combination for our people and our clients.” he concluded.