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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Colliers International Group Inc.    CIGI   CA1946931070

COLLIERS INTERNATIONAL GROUP INC.

(CIGI)
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Colliers International Expands to Nashville, Tennessee

09/02/2020 | 07:30am EST

TORONTO, Sept. 02, 2020 (GLOBE NEWSWIRE) -- Leading global commercial real estate services and investment management firm, Colliers International Group Inc. (NASDAQ and TSX: CIGI), today announced the acquisition of Colliers International Nashville, LLC (“Colliers | Nashville”), which was previously an affiliate operation. The current shareholders of Colliers | Nashville will retain equity in the business under Colliers’ unique partnership model. As a company-owned operation, Colliers | Nashville will continue to build on its market leadership position by increasing service capabilities and leveraging the vast resources of Colliers’ growing and innovative platform. Details of the transaction were not disclosed.

With a long and successful history dating back to 1938, Colliers | Nashville has become one of the leading commercial real estate services firms in the greater Nashville area. Its 70 professionals provide landlord agency, tenant representation, investment sales brokerage, property management and project management services to investors, developers and occupiers of commercial real estate.

“Nashville’s diverse economy, low cost of living, business-friendly environment and well-educated population make the city the third hottest real estate market for 2020 as ranked by the Urban Land Institute,” said Ryan Kratz, Colliers International President, Southeast Region | U.S. Brokerage. “Colliers | Nashville has a team of highly respected and experienced professionals who have built an outstanding reputation for the company in the market. Our new partnership will allow the business to grow from strength to strength and better serve our clients in the important Southeast Region, as well as nationally and internationally.”

“It was essential for us to partner with a firm that shares our culture and values. Given our long association with Colliers, their enterprising approach and partnership philosophy really resonated with us. This partnership was a natural next step that will provide us with greater access to the broader Colliers platform to expand our capabilities and capitalize on the opportunities in our growing market,” said Janet Miller, Partner and CEO of Colliers | Nashville.

“By integrating into the Colliers highly respected, global platform and leveraging its size, capital, established infrastructure and industry leadership, we look forward to accelerating our growth and continuing our success story here in Nashville,” said Bert Mathews, Partner and EVP of Colliers | Nashville.

About Colliers International

Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 18,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.

COMPANY CONTACTS:

Christian Mayer
Chief Financial Officer
(416) 960-9500

Ryan Kratz
President, Southeast Region | U.S. Brokerage
(813) 221-2290

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© GlobeNewswire 2020
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Financials (USD)
Sales 2020 2 711 M - -
Net income 2020 49,9 M - -
Net Debt 2020 658 M - -
P/E ratio 2020 83,0x
Yield 2020 0,11%
Capitalization 3 684 M 3 682 M -
EV / Sales 2020 1,60x
EV / Sales 2021 1,27x
Nbr of Employees 15 250
Free-Float 89,0%
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 95,00 $
Last Close Price 91,67 $
Spread / Highest target 14,5%
Spread / Average Target 3,63%
Spread / Lowest Target -7,28%
EPS Revisions
Managers and Directors
NameTitle
Jay S. Hennick Global Chairman & Chief Executive Officer
John B. Friedrichsen Chief Operating Officer
Christian Mayer Chief Financial Officer
Mihai Strusievici Vice President-Information Technology
Peter F. Cohen Independent Vice Chairman
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