Colliers Expands in Germany, Netherlands
- Jun 13, 2013
Colliers International has acquired controlling interests in Colliers Schon and Lopez Schmitt GmbH (Colliers Frankfurt) and in Trombello Kolbel Immobilienconsulting GmbH (Colliers Dusseldorf), both in Germany, as well as a controlling interest in Urban Properties International Real Estate Management B.V., a leading asset and property management firm in the Netherlands, First Service Corp., Colliers’ parent entity, announced Wednesday.
The terms of the transactions were not disclosed.
The two German transactions complete the process of consolidating Colliers’ five affiliates in that country, Chris McLernon, CEO of the EMEA for Colliers International, told Commercial Property Executive, the affiliates in Munich, Stuttgart and Berlin having been acquired in March.
In each case, per Colliers’ usual practice, he said, the local partners retained minority equity stakes.
“We’re acting as a catalyst to bring together a national platform in Germany,” McLernon said, giving Colliers the potential to work for institutional clients and not just local ones.Germany is one of the strongest areas in Europe for Colliers, he added, and the affiliates there have “tremendous margins and market share,” especially in office leasing and investments.
The Netherlands acquisition adds Urban Properties International’s capabilities to Colliers’ existing services there, of office and industrial brokerage, corporate solutions, valuation and capital markets.