INDIANAPOLIS—Colliers International Group Inc. yesterday said it had acquired Indianapolis-based Summit Realty Group, a firm which includes 70 professionals and had been affiliated with Cushman & Wakefield. The move comes just one day after Resource Commercial Real Estate, also in Indianapolis, ended its five-year affiliation with Colliers after deciding to operate as a 100% locally-owned entity.
Summit works with clients across multiple property types, both regionally and nationally, and provides tenant representation, corporate solutions, capital markets and investment sales, property management and project management. Terms of the transactions were not disclosed. Summit will be the sole Colliers operation in Indianapolis.
“The new Colliers International in Indianapolis has an enviable track record in the Midwest but also in many of the world’s major markets,” said Martin Pupil, Colliers’ president for the Western Region. “Their unique expertise combined with their collaborative culture and passionate desire to serve clients makes them a perfect fit for Colliers and further strengthens our platform market leadership in the Midwest, an important and growing region.”
Local officials were not available by press time, but GlobeSt.com will discuss Colliers’ overall expansion plans with Craig Robinson, president of Colliers International | USA, later this week.
This is the second big Midwest expansion for Colliers in just the past few months. As reported in GlobeSt.com, in September the firm acquired Gateway Commercial in St. Louis, another firm once affiliated with Cushman & Wakefield. Gateway officials told GlobeSt.com then that the recent merger between C&W and DTZ would have made their firm part of the same company that is one of its main competitors. But the acquisition by Colliers preserved the firm’s independence and allowed it to still have an international platform.
“With the industry continuing to consolidate, our organization was focused on aligning with a platform that would truly enhance our ability to service our extensive multi-market client base nationally and globally,” said Brian Zurawski, co-market leader, in a prepared statement. “Without question, the culture of Colliers International aligns with our own, encouraging our people to think differently, share great ideas and to create effective solutions that accelerate our clients’ success,” added Matt Langfeldt, also a co-market leader. “As part of Colliers International, we can now offer our clients even more; greater access to markets globally and an operating environment that is both entrepreneurial and keenly focused on service excellence.”