Colliers International Continues Expansion In New York Tri-state Region
Adding Colliers Long Island further strengthens operations in the region
NEW YORK, July 12, 2016 — Leading global commercial real estate services firm Colliers International Group Inc. (NASDAQ:CIGI, TSX:CIG) announced today the acquisition of Colliers International Long Island (“Colliers Long Island”). From their offices in Lake Success, New York, the professionals from Colliers Long Island provide the Long Island region with leasing and sales brokerage services to real estate occupiers, owners and investors. Terms of the transaction were not disclosed.
“The addition of Colliers Long Island is another strategic step in expanding operations in the New York Tri-State region and providing a foundation for growth into Queens and Brooklyn,” said Joseph Harbert, Colliers International President | Eastern Region. “The acquisition of Colliers Long Island is further evidence of our commitment to invest in our people, markets and our clients.”
“Becoming part of the Colliers International global entity was the natural next step for us,” said Herb Agin, CEO of Colliers Long Island. “We expect to fully integrate operations within the existing Tri-State Region and leverage the size, capital and best-in-class infrastructure of the Colliers International brand and global platform to better serve our clients and expand opportunities for our professionals,” he concluded.
“Following the acquisition earlier this year of project manager Gorton & Partners, as well as the addition of several high profile strategic hires, Colliers has further elevated its service capabilities in the largest real estate market in the world. The New York Tri-State region will continue to be a key strategic focus area going forward,” added Dylan Taylor President & COO of Colliers International.
About Colliers International
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries. With an enterprising culture and significant employee ownership, 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 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 11 consecutive years, more than any other real estate services firm.
Advisory Regarding Forward-Looking Information
Certain information included in this news release is forward-looking, within the meaning of applicable securities laws. Much of this information can be identified by words such as “believe”, “expects”, “expected”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “continues” or similar expressions suggesting future outcomes or events. Colliers believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.
Forward-looking statements are based on current information and expectations that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those anticipated. These risks include, but are not limited to, risks associated with: (i) general economic and business conditions, which will, among other things, impact demand for Colliers’ services and the cost of providing services; (ii) the ability of Colliers to implement its business strategy, including Colliers’ ability to identify and acquire suitable acquisition candidates on acceptable terms and successfully integrate newly acquired businesses with its existing businesses; (iii) changes in or the failure to comply with government regulations; and (iv) such factors as are identified in the Annual Information Form of Colliers for the year ended December 31, 2015 under the heading “Risk Factors” (which factors are adopted herein and a copy of which can be obtained at www.sedar.com). Forward looking statements contained in this news release are made as of the date hereof and are subject to change. All forward-looking statements in this news release are qualified by these cautionary statements. Except as required by applicable law, Colliers undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.