Advisor Colliers announced on Wednesday that it has entered into an agreement to acquire a controlling interest in its affiliate platform in Italy, consisting of the companies Colliers International Italia, Colliers Real Estate Services Italia and Colliers Real Estate Management Services Italia (collectively, Colliers Italy).
The current shareholders of Colliers Italy, Ofer Arbib and Giulia Longo, will retain an equity interest in the business under Colliers’ unique partnership model. As a company-owned operation, Colliers Italy will increase service capabilities and leverage the resources of Colliers’ platform across Europe.
The transaction is expected to close in the first quarter of 2022. Details of the transaction were not disclosed.
Originally founded in 1996, Colliers Italy has grown to over 80 professionals providing landlord agency, tenant representation, investment sales brokerage, property management, valuation and project management services to investors, developers and occupiers of commercial real estate. Colliers Italy is expected to generate €16 mln of revenues for the year ending December 31, 2021.
The acquisition comes hard on the heels of Colliers’ purchase of Italian asset manager Antirion sgr only last week.
‘Milan and Rome are key European markets with a combined population of over 4.3 million and home to nearly all major Italian businesses and investors,’ said Chris McLernon, CEO - EMEA for Colliers. ‘Colliers Italy has a market leading position and an experienced team of highly respected professionals with extensive knowledge of the Italian real estate landscape. This new partnership will allow Ofer and Giulia to continue their success and leverage the additional resources of the global business to better serve our clients domestically and internationally.’
‘Given our long association with Colliers, this was a natural next step for our firm. Their enterprising approach and partnership philosophy will provide us with greater access to the broader Colliers platform to expand our capabilities and capitalize on the opportunities in our growing market,’ said Giulia Longo, co-principal of Colliers Italy.
