TORONTO, Dec. 1, 2015 (GLOBE NEWSWIRE) -- Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIG), a global leader in commercial real estate services, today announced the acquisition of Summit Realty Group, a market leader in Indianapolis including 70 professionals. The new Colliers International in Indianapolis is a highly regarded thought leader and advisor across multiple property types, both regionally and nationally, and offers a complete range of commercial real estate services including tenant representation, corporate solutions, capital markets and investment sales, property management and project management. Terms of the transactions were not disclosed.
"The new Colliers International in Indianapolis has an enviable track record in the Midwest but also in many of the world's major markets," said Martin Pupil, Colliers International President | Western Region. "Their unique expertise combined with their collaborative culture and passionate desire to serve clients makes them a perfect fit for Colliers and further strengthens our platform market leadership in the Midwest, an important and growing region."
"With the industry continuing to consolidate, our organization was focused on aligning with a platform that would truly enhance our ability to service our extensive multi-market client base nationally and globally," said Brian Zurawski, Co-Market Leader. "Without question, the culture of Colliers International aligns with our own, encouraging our people to think differently, share great ideas and to create effective solutions that accelerate our clients' success," added Matt Langfeldt, Co-Market Leader. "As part of Colliers International, we can now offer our clients even more; greater access to markets globally and an operating environment that is both entrepreneurial and keenly focused on service excellence," he concluded.
"Expanding our company-owned operations in major markets is a key part of our growth strategy and having a strong operation in Indiana coupled with our leadership in other markets in the Midwest further strengthens our business in the U.S.," said Craig Robinson, President of Colliers International | USA. "The addition of Colliers International in Indianapolis helps us leverage our capabilities across our entire global platform and follows our recent acquisition in St. Louis, complementing our market leading operations in Chicago and Kansas City," he concluded.
Summit will be the sole Colliers operation in Indianapolis.
About Colliers International Group
Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIG) is a global leader in commercial real estate services with more than 16,300 professionals operating from 502 offices in 67 countries. With an enterprising culture and significant inside ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include lease brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals' Global Outsourcing for 10 consecutive years, more than any other real estate services firm.
Advisory Regarding Forward-Looking Information
Information in this press release that is not a historical fact is "forward-looking information". Words such as "plans", "intends", "outlook", "expects", "anticipates", "estimates", "believes", "likely", "should", "could", "will", "may" and similar expressions are intended to identify statements containing forward-looking information. Forward-looking information in this press release is based on current objectives, strategies, expectations and assumptions which management considers appropriate and reasonable at the time. The forward-looking information in this press release includes, but is not limited to, statements with respect to the expected future attributes of Colliers.
By its nature, forward-looking information is subject to risks and uncertainties which may be beyond the ability of Colliers to control or predict. The actual results, performance or achievements of Colliers could differ materially from those expressed or implied by forward-looking information. Factors that could cause actual results, performance, achievements or events to differ from current expectations include, among others, risks and uncertainties related to: the operations and financial condition of Colliers as a separately traded public company; business cycles, including general economic conditions in the countries in which Colliers operates, which will, among other things, impact demand for services and the cost of providing services; the ability of Colliers to implement its business strategy, including its ability to acquire suitable acquisition candidates on acceptable terms and successfully integrate newly acquired businesses with its existing businesses; changes in or the failure to comply with government regulations; changes in foreign exchange rates; increased competition; credit of third parties; changes in interest rates; and the availability of financing. Additional information on certain of these factors and other risks and uncertainties that could cause actual results or events to differ from current expectations can be found in Old FirstService's Annual Information Form for the year ended December 31, 2014 under the heading "Risk Factors" (which factors are adopted herein and a copy of which can be obtained at www.sedar.com). Certain risks and uncertainties specific to the arrangement transaction, Colliers and New FirstService are further described in the Management Information Circular of Old FirstService dated March 16, 2015. Other factors, risks and uncertainties not presently known to Colliers or that Colliers currently believes are not material could also cause actual results or events to differ materially from those expressed or implied by statements containing forward-looking information.
Readers are cautioned not to place undue reliance on statements containing forward-looking information that are included in this press release, which are made as of the date of this press release, and not to use such information for anything other than their intended purpose. Colliers disclaims any obligation or intention to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
CONTACT: COMPANY CONTACT: John B. Friedrichsen Chief Financial Officer Phone: (416) 960-9500 MEDIA CONTACT: Margaret Meluzio Havas PR Phone: (646) 510-6578
Source:Colliers International Group Inc.