MIAMI—Avison Young is acquiring AboodWood-Fay Real Estate Group, which is currently doingbusiness as Colliers International South Florida.Barring any hitches in the closing process, the deal should be donewithin 30 days. Terms of the acquisition were not disclosed.

What does this mean for Michael Fay andDonna Abood? The dynamic duo will become Avisonprincipals and managing director's of the growing Canada-basedreal estate firm's Miami office. The 30-yearcommercial real estate veterans, who serve aschairs and founding partners of their firm, will focus on growingthe Avison platform in the Miami region. JohnCrotty, executive vice president of Abood Wood-Fay, willalso serve as a principal of Avison Young.

“This strategic acquisition will give Avison Young an evenbroader client-service platform in the Florida market as wecontinue to expand our capabilities throughout the US andoverseas,” says Mark Rose, chair and CEO ofAvison. The merger will add about 70 employees from Abood Wood-FayMiami, Fort Lauderdale, and Palm Beach offices to Avison'soperations in South Florida.