{"id":1004230188,"date":"2018-05-17T06:25:52","date_gmt":"2018-05-17T14:25:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004230188"},"modified":"2022-12-08T19:24:46","modified_gmt":"2022-12-09T03:24:46","slug":"latest-colliers-investment-nears-half-billion","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/latest-colliers-investment-nears-half-billion\/","title":{"rendered":"Latest Colliers Investment Nears Half-Billion"},"content":{"rendered":"<p>By Barbra Murray<\/p>\n<div id=\"attachment_1004230096\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Colliers-International.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004230096\" data-attachment-id=\"1004230096\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/?attachment_id=1004230096\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Colliers-International.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Colliers International\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Colliers International&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Colliers-International.jpg?w=800\" class=\"wp-image-1004230096 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Colliers-International.jpg\" alt=\"Colliers International\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Colliers-International.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Colliers-International.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Colliers-International.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004230096\" class=\"wp-caption-text\">Colliers International<\/p><\/div>\n<p>Colliers International Group has been making great strides in the five-year growth plan it established upon <a href=\"https:\/\/www.commercialsearch.com\/news\/firstservice-is-breaking-up\/\">spinning off from FirstService<\/a> in 2015. The firm&#8217;s most recent move takes it a big step closer to realizing its objective of doubling in size by 2020. The global commercial real estate services firm just inked a deal to acquire 75 percent of Harrison Street Real Estate Capital LLC, a leading real estate investment management firm, from its founders for $450 million.<\/p>\n<p>Focused exclusively on the education, healthcare and storage sectors, Chicago-based Harrison Street made its debut in 2005, and today the company has approximately $14.6 billion in assets under management. <em>\u201cThe investment in Harrison Street is transformational and the most significant in our history<\/em>,\u201d Jay Hennick, chairman &amp; CEO of Colliers International Group, said in a prepared statement. <em>\u201cThe transaction establishes us as one of the major players in global real estate investment management, providing an important new growth platform that also facilitates the integration of our existing operations in Europe.&#8221;<\/em><\/p>\n<p>Ultimately, the price tag on the deal will exceed the half-billion-dollar mark, as terms of the agreement call for Colliers to fork over an additional $100 million in 2022, should certain performance targets be met.<\/p>\n<h2>Growth gains<\/h2>\n<p>The Harrison Street transaction, scheduled to close in the third quarter, is one of a host of acquisitions Colliers has made since its mid-2015 separation from FirstService. In 2016, the firm acquired ICADE Asset Management and ICADE Conseil, a French asset management and investment advisory services platform that boasted a portfolio of assets under management valued at more than \u20ac2 billion, or approximately $2.3 billion in today\u2019s dollars. In 2017, Colliers closed 10 acquisitions spanning the firm\u2019s three distinct operating segments, Americas, EMEA and Asia-Pacific. Among last year\u2019s purchases was London-based Vision Asset Management Co., a leading European hospitality asset management firm with clients in the U.K. and across EMEA. And one of the firm\u2019s first announcements of 2018 was its purchase of Ovenia Group, one of Finland\u2019s top real estate management and service companies.<\/p>\n<p><em>\u201cWe are on track to achieving our goals,\u201d<\/em> Hennick wrote in his annual message to shareholders this year. <em>\u201cWe continue to be presented with more opportunities today than at any other time in our history.\u201d <\/em><\/p>\n<p><em>Commercial Property Executive<\/em> has ranked Colliers as one of the <a href=\"https:\/\/www.commercialsearch.com\/news\/top-50-property-managers\/\">top property management firms<\/a> in the world for two consecutive years.<\/p>\n<p><em>Image courtesy of Colliers<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The commercial real estate services firm will acquire a majority stake in Harrison Street Real Estate Capital, a firm with approximately $14.6 billion in assets under management.<\/p>\n","protected":false},"author":969,"featured_media":1004230096,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,16,21754,21742,21785],"tags":[32763,36591,40380],"class_list":["post-1004230188","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-international","category-medical-office","category-latest","category-property-management","tag-colliers-international","tag-harrison-street-real-estate-capital","tag-jay-hennick"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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