Welsh Brokerage and Property Management Divisions Join Colliers International

MINNETONKA, Minn., and SEATTLE, June 16, 2011 /PRNewswire/ -- In its continuing plan to significantly expand its U.S. footprint, Colliers International has added Welsh Companies' brokerage and property management divisions to its global operations. The two divisions will begin operating under the Colliers' name and brand on August 1, 2011.

By combining with Colliers International, Welsh Companies and its staff of 75 commercial real estate brokerage experts and 50 property management professionals will become one of the world's top-tier real estate brands, with 12,500 professionals operating out of more than 500 offices in 61 countries.

"As the Twin Cities is an important market in the U.S. to both institutional and corporate occupiers, it was vital that we have a best-in-class presence there," said Dylan Taylor, CEO of Colliers International in the U.S.  "In addition to its business model, Welsh's philosophy and culture is a great fit for Colliers that will significantly contribute to our future growth in the Twin Cities, nationally and around the globe."  

In 2010, Welsh's 75 licensed Twin Cities real estate brokers completed approximately 970 transactions totaling over $414 million. "With four local brokerage offices and a highly tenured team of experts, Welsh offers the greatest depth of market knowledge, relationships and resources in the Twin Cities. Becoming a crucial part of Colliers International, the second most-recognized real estate brand in the world, is the next logical step in Welsh's evolution in the Twin Cities," said Bill Wardwell, Executive Vice President.

Wardwell will continue as the company's executive vice president of brokerage operations, and Mark Parten will continue as senior vice president of the company's property management division. All brokers and staff will remain with the company and all Welsh divisions will continue operating under the Welsh umbrella.

"The new partnership with global industry leader Colliers International will provide Welsh with opportunities for continued growth and international exposure for listings, with better results for our clients," said Wardwell.

An Accredited Management Organization® (AMO®), Welsh oversees a portfolio of approximately 27.1 million square feet of office, industrial, retail, and multi-family properties for a variety of institutional and entrepreneurial commercial real estate owners throughout the Midwest; serving the needs of more than 2,000 tenants daily.

"We are excited to partner with the premier national service platform that is Colliers International, and we remain committed to providing our customers with the innovative, personal service that has made Welsh the market leader in the Twin Cities for nearly thirty-five years," said Mark Parten, Senior Vice President, Property Management.

About Colliers International

Colliers International is the third-largest commercial real estate services company in the world with 12,500 professionals operating out of more than 500 offices in 61 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research. Commercial Property Executive and Multi-Housing News magazines ranked Colliers International as the top U.S. real estate company and the latest annual survey by the Lipsey Company ranked Colliers International as the second most recognized commercial real estate brand in the world. 

About Welsh

Welsh is a full-service commercial real estate company headquartered in the Twin Cities with regional offices in Minneapolis and St. Paul; Chicago, Illinois; St. Louis, Missouri; Detroit, Michigan; and Cincinnati, Ohio. The Welsh organization consists of more than 300 professionals whose expertise extends into every aspect of commercial real estate including office, industrial, retail, multifamily, land and investment brokerage, corporate services, property management, facility management, construction, architecture, development, financing and investment services. To learn more about Welsh, go to www.welshco.com, view our blog or visit us on Twitter.

SOURCE Colliers International