Cassidy & Pinkard Ends Colliers Relationship

Called Cassidy Turley, the new entity will incorporate Colliers Turley Martin Tucker, Cassidy & Pinkard Colliers, Colliers Pinkard, Colliers ABR, BT Commercial in Northern California, BRE Commercial in Southern California, BRE Commercial in Arizona, and Colliers Houston & Co. of New Jersey.

Based in St. Louis, Mark Burkhart, CEO of Colliers Turley Martin Tucker, will be CEO. Joe Stettinius, CEO of Cassidy & Pinkard Colliers in DC, will be president. Colliers Pinkard's CEO, Wally Pinkard, will be chairman.

The new move is in the best interests of the companies' clients and employees, Stettinius tells GlobeSt.com. "We are not doing this to save money or be more efficient – we are doing this to grow our pipeline and revenue."

All of the participating firms are dominant in their local markets, he points out. Cassidy & Pinkard Colliers has been struggling with the issue of morphing from a local firm to a national firm. "We haven't found being a regional firm very compelling," Stettinius says.

Cassidy Turley is launching as the third largest property manager in the US, he says – with some 420 million square feet of property under management. Last year the combined firms completed $15 billion in brokerage transactions. As for the current pipeline "my sense is that it represents growth over that number, but by how much I couldn't say."

Cassidy Turley is Cassidy & Pinkard Colliers' latest corporate iteration of this company. Last yearco-founder Robert Pinkard left his position as chairman of Cassidy & Pinkard Colliers to strike out on his own to focus on investment opportunities.In August 2008 Cassidy & Pinkard Colliers, Colliers Turley Martin Tucker, Colliers ABR and Colliers Pinkard merged.

This move follows this week's news that Colliers International and FirstService Real Estate Advisors are 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.To read more about the deal click here.