Exactly how much FirstService REA has put into the offering is uncertain. The firm will however receive two seats on Colliers CRE's board and will have a say on the every day operations.
"With FirstService REA's strong presence in Central, Eastern and Southeast Europe. Russia, Asia, Latin America and our growth in North America, this investment will greatly enhance our ability to efficiently and effectively service our global clients," says Douglas Frye, CEO and president of the global operations for FirstService REA. "Colliers CRE has an operating philosophy very similar to ours and the combination is a perfect fit."
The deal with Colliers CRE will expand FirstService REA's presence to include London, New York, Moscow, Los Angeles, Hong Kong, Shanghai, Toronto, Washington, DC, Atlanta and Sydney.
"Colliers CRE, like FirstService REA, believes strongly in providing clients with advice and service of the highest quality through integrated specialist teams. This is what builds long-term relationships." says David Izett, group chief executive of Colliers CRE. "Our operations, combined with FirstService REA's global footprint, establish another real alternative for multi-national firms."
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