During a press briefing Thursday at Williams' headquarters here, FirstService and Williams executives emphasized their common interest in a decentralized platform for operating efficiency. "The brokers are, to a certain extent, our clients too," said Michael Cohen, president of Williams, and therefore they need a quick turnaround on decisions in order to be able to service clients.
Douglas Frye, president and CEO of FirstService Commercial Real Estate and chairman of Colliers International, said the acquisition of Williams provides a gateway into the New York market that the company has not had before. At the same time, Williams management said their company will benefit from the greater capabilities of FirstService's international platform, which generates $1.9 billion annually in revenues.
"This is a game-changer for us," said Robert Freedman, executive chairman of Williams. Its range of services will be expanded to include mortgage brokerage, asset management, project management and hotel and hospitality consulting, according to the release.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
