Colliers International has acquired a controlling interest in financial and strategic advisory firm IREA Corporate Finance and merged its existing operations to create one of Spain’s top players in the real estate and hotel markets.
The senior leaders of both operations will remain significant shareholders of the combined business under Colliers International’s partnership model.
Colliers International's Spanish platform has more than 100 professionals operating in Madrid and Barcelona providing financial and strategic advisory services as well as investment sales, lease brokerage, valuations, workplace consultancy and property and project management to domestic and international investment funds, financial institutions and other owners and occupiers of real estate.
Terms of the transaction were not disclosed.
'The partnership with Colliers is the next evolution of our business given our shared culture and commitment to excellence,' said founding partner Mikel Echavarren who will assume the role of CEO and country leader of Colliers International - Spain. 'Although our firm enjoyed tremendous success over the years, aligning with a global brand with an international platform second to none, will enable our professionals to better serve our clients. We are extremely excited about the opportunities ahead and look forward to continuing to provide best in class real estate services to our clients seamlessly, anywhere in the world.'
'The Spanish market has seen significant growth over the past few years, providing an opportune time to elevate our business with the highly regarded group of professionals from IREA and take us to the next level,' said Colliers' EMEA CEO Chris McLernon. 'Having more than tripled the size of our business in Europe over the last five years, this latest combination of capabilities and professionals puts Colliers in an enviable position in Spain, one of the region’s most important markets, setting the stage to accelerate the success of our clients, wherever they choose to do business.'
