Colliers has entered into an affiliate agreement with real estate advisory and management firm, Arbitrage Real Estate based in Athens, Greece.
Arbitrage was established in 2013 by Nikos Kountouriotis, Ioannis Orfanos and George Vitoulas.
Kountouriotis will become the CEO of Colliers Greece , while Orfanos Vitoulas continue in leadership positions.
Highlighting Colliers continued growth in Europe, Davoud Amel-Azizpour, CEO, Colliers EMEA, said, ‘Colliers is always on the look-out for strong performing businesses that have well-established business credentials and a strong culture focussed on accelerating success for our people and clients. I am confident that under Nikos’ leadership the Arbitrage team will integrate well with the wider EMEA region and deliver long-term growth as Colliers Greece.’
He added: ‘As the market experiences a pricing re-set we see this as an opportune time to strengthen our region further by bringing on board another prosperous business and expand Colliers’ expert services for clients in EMEA.’
Colliers Greece will provide agency and brokerage, asset and property management and valuations research and advisory for property in Greece.
Kountouriotis said: ‘Through the firm’s global platform, we will be able to accelerate the services offered to our local and international clients.’
Arbitrage now re-brands its commercial advisory and brokerage business to Colliers. The terms of the affiliate agreement were not disclosed.
This is the latest strategic move made by Colliers of late. Last year, it took over the Nordics' Pangea Property Partners. For insight into that acquisition, click here.
