Colliers International Creates Top Tier Player in Spain

TORONTO, Feb. 27, 2018 -- Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI), a global leader in commercial real estate services, today announced that it has acquired a controlling interest in leading financial and strategic advisory firm, IREA Corporate Finance S.L. (“IREA”) 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 unique partnership model. Colliers International | Spain 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 Chris McLernon, Colliers International CEO | EMEA. “Having more than tripled the size of our business in Europe over the last 5 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,” he concluded.

About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI) is an industry-leading real estate services company with a global brand operating in 69 countries and a workforce of more than 12,000 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers has also been ranked the number one property manager in the world by Commercial Property Executive for two years in a row.

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GLOBAL CONTACT:
John B. Friedrichsen
Chief Financial Officer
(416) 960-9500

EMEA CONTACT:
Chris McLernon
CEO, Colliers International│EMEA
44 20 7487 1651