FirstService REA, Colliers Int'l Combine Forces

NEW YORK CITY-Colliers International and FirstService Real Estate Advisors said Monday that they’re combining their operations and global real estate services platforms. The combined entity will operate as Colliers International in 61 countries, using the FirstService REA operating and partnership model.

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.”