Colliers Acquires Its Philadelphia Affiliate
By Nick Trombola April 10, 2024 7:10 am
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One of the world’s leading commercial real estate services and investment firms just got a bit bigger.
Toronto-based Colliers (CIGI) has acquired its Philadelphia affiliate, Colliers Philadelphia, Commercial Observer has learned. Representatives for Colliers declined to reveal the exact terms of the deal, but it will bring 130 professionals across five Philadelphia offices into the official Colliers fold.
Colliers’ affiliate structure is unusual for a brand of its size and longevity. Its affiliates essentially operate as franchises, sharing branding and certain resources, though their ownership and platforms remain distinct. Colliers has picked up other affiliates recently, including in Nashville, Tenn., in 2020, and then in Cleveland and Cincinnati in 2022.
The real estate company still has 15 other affiliates across the U.S., with the largest in Houston, Denver and South Carolina.
Although Colliers maintains close relationships with its affiliates, the acquisitions mean the offices will have closer collaboration as they grow their shared platforms, as well as more consistency in marketing campaigns and other aspects of their business formerly outside of Colliers’ direct control, Colliers U.S. and Latin America President and CEO Gil Borok told Commercial Observer.
“It’s very synergistic for [Colliers Philadelphia] in particular because now they have access to all of the tools, expertise and tech platforms at our disposal,” Borok said. “It really improves our collective ability to grow this market effectively and organically. … We don’t get to do acquisitions like this every day.”
Founded in Australia in 1976, Colliers has since become a global firm, with some 19,000 employees operating in 66 different countries. The firm manages a portfolio of assets worth a collective $100 billion.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
