Colliers International, FirstService Real Estate Advisors form mega real estate firm

Colliers International and FirstService Real Estate Advisors said Monday they will unite their operations and global real estate services platforms.

The combined company will operate as Colliers International in 61 countries worldwide, relying on FirstService REA’s operating and partnership model. Colliers International will now have 15,000 employees in 480 offices. Financial terms were not disclosed.

FirstService REA is a subsidiary of Canada-based FirstService Corp. (NASDAQ: FSRV; TSX: FSV), a property services firm with $1.8 billion in annualized revenue and more than 18,000 employees worldwide.

FirstService REA was the biggest member of Colliers International when FirstService acquired it six years ago.

In the past few years, First Service REA has scooped up controlling stakes in FirstService PGP Property Valuation, PKF Hotel and Hospitality Consulting, MHPM Project Leaders and FirstService Williams, FirstService REA’s New York tri-state area brokerage hub. Earlier this year, FirstService REA made its foray into the Washington market by opening a full-service real estate services firm in D.C. and attaching a retail arm to the local operation soon after. Tim Hague, former president at GVA Advantis in D.C., is principal and executive managing director at FirstService’s regional headquarters.

“The strategic integration of our business and service brands not only facilitates maximum service levels to our clients, but it also helps us attract the best and brightest in the industry – those who are entrepreneurial and client-centric by nature and who seek opportunities that match their industry aspirations,” said Dylan Taylor, president and CEO of FirstService REA, who will become president and CEO of Colliers International in the U.S.

Colliers has significant operations in the metro Phoenix area. The Phoenix division underwent management changes in early 2009 as Bob Mulhern became its managing director. He replaced Mike Fitzgerald.

There has been no word yet on how the Colliers-FirstService partnership will impact the Phoenix market.

Tierney Plumb is a staff reporter for the Washington Business Journal, a sister publication.

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