According to a release, the combined Colliers International is now ranked as the global commercial real estate industry's third largest services firm, with 15,000 employees worldwide. With an eye toward completing its transition from a decentralized network of affiliates to a more centrally owned and operated firm, FirstService REA will work with its operating partners to provide greater stability and consistency in its operations and enhanced client service delivery throughout the Colliers International organization, the release states.

"Colliers International has many distinct competitive advantages when compared to other global service providers," Douglas P. Frye, chairman and CEO of Colliers International, says in a statement. "Our successful partnership model enables key executives to retain significant equity in the businesses they operate day-to-day creating more alignment and accountability; ensuring clients receive the highest level of service and consistent delivery over the long-term." He called the transition to a centrally owned and operated entity "a milestone in our company's history."

Dylan Taylor, president and CEO of FirstService REA, will become president and CEO of Colliers International in the USA. He tells GlobeSt.com that the most obvious advantage of the new combination is having "one unified, clear-cut brand, not only in the US but globally." Additionally, it will enhance the company's ability to provide "platform services," such as institutional and corporate property management. In local markets worldwide, the Colliers International ownership model will "enable us to attract and retain the best people," he says.