Colliers International has acquired Icade Asset Management and advisory services firm Icade Conseil, which together have more than €2 bn of assets under management in France.
Financial details were not disclosed.
The move is aimed at boosting Colliers' asset management and advisory business for real estate investors and developers in Europe.
The newly acquired entities will be re-branded as Colliers International – Investment & Asset Management and current managing director, Romain Frémont will become managing director of Colliers International Investment & Asset Management France.
'The Icade team will be a great addition to our existing advisory solutions business and will further our growth initiatives,' said Colliers’ Gilles Betthaeuser. 'The new Colliers International – Investment & Asset Management will continue to tailor flexible market solutions for clients to help them achieve their desired asset enhancing objectives. This asset management approach combined with our results-oriented culture has delivered significant value maximizing strategies for our clients over the long term.'
The acquisition is Colliers' third in Europe this year following Hatton Real Estate in the UK and WPM Group in the Netherlands.
