International. The acquisition of a prominent management and brokerage firm strengthens the multinational's leadership and service offering in this important area of the United States.
Colliers International Group Inc. announced the acquisition of Continental Real Estate Companies Commercial Properties Corp. ("CREC").
Founded in 1989 by Warren Weiser and Carol Greenberg Brooks, CREC is one of the most important companies in the real estate services market in the United States, specializing in property and project management, sales brokerage and leases.
Thanks to this acquisition, Colliers now has a broad portfolio of more than 12.6 million square feet of offices, industrial and commercial space in Florida and more than 100 professionals operating from three offices across the state. Terms of the transaction were not disclosed.
"This new CREC acquisition not only impacts the U.S. market, but will have an impact on the global real estate market. The cooperation and strategic location in South Florida will create new opportunities for the Latin American real estate business," said Roberto Cáceres, General Manager of Colliers International Colombia S.A.
"This strategic acquisition positions Colliers as the leading retail brokerage and senior management company in the vibrant South Florida market," said Ryan Kratz, President of the Southeast U.S. Brokerage Region for Colliers International. "The addition of Warren and Carol and their talented group of professionals to our company distinguishes Colliers as the commercial real estate services firm of choice for the most successful companies in the region."
"While we have enjoyed great success as an independent company, we are also aware that we are increasingly competing in a global environment where customers require a comprehensive international platform and industry-leading tools to provide them with the service they need," Weiser said. Greenberg said, "We are thrilled to join Colliers and be part of a team that is aligned with our company culture and focused on service excellence." "We are now ideally positioned to accelerate our growth in the Florida market by leveraging Colliers' global brand, infrastructure and relationships."
"This addition is the fifth strategic acquisition in the year we have completed in the United States, all of which have strengthened and diversified our operations to better serve our customers," said Dylan Taylor, President and Chief Operating Officer of Colliers International. "Our goal continues to focus on elevating the Colliers platform and remaining the most entrepreneurial company in the industry, with professionals thriving in a culture that helps accelerate their success."
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