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MINNEAPOLIS—Colliers International has announced it will acquire a controlling interest in four subsidiaries of the locally-based Dougherty Financial Group LLC, establishing a US securities business and strengthening its capital markets capabilities.
The transaction is expected to close in the first half of 2020, subject to customary closing conditions. Terms of the transaction were not disclosed.
Dougherty has more than 250 professionals operating from nine offices, providing mortgage banking, brokerage and investment banking services in 21 US states. The company originates more than $2.5 billion of real estate loans annually, services more than $7 billion in loans and is expected to generate 2019 revenue of $100 million.
At closing, all Dougherty mortgage banking activities will be rebranded as Colliers Mortgage, and will continue to provide specialty debt financing for multifamily, healthcare and senior housing real estate through the GSEs.
This includes origination, underwriting, asset management and loan servicing for Fannie Mae, the Federal Housing Administration/the US Department of Housing and Urban Development and the US Department of Agriculture.
Colliers Mortgage will also provide commercial property lending to institutional investors as well as loan syndication.
All securities operations of Dougherty will be rebranded as Colliers Securities, LLC and will continue to be registered with the Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority, providing brokerage, investment banking, capital markets services, public finance services and other real estate related activities.
This investment marks a significant milestone for Colliers as it continues to grow its full-service capital markets capabilities, said Gil Borok, President & CEO, Colliers International | US, in prepared remarks.
The company already has capabilities in investment sales and debt capital markets.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
