The world of International Real Estate has seen some huge acquisitions by some of the worlds largest real estate companies including Colliers International and Morgan Stanley Real Estate.
Colliers International, commercial real estate services, announced the purchase of Torode Realty, Ltd., a leading commercial real estate firm specializing in industrial real estate brokerage.
“The addition of Torode reinforces Colliers International’s goal of being the premier commercial real estate provider in Canada,” said David Bowden, president of Colliers International’s Canadian Brokerage Division.
“By acquiring Torode, Colliers International has solidified its industrial foothold in Alberta,” said George Dawson, managing director of Colliers International’s Edmonton office. “We’ve always strived to provide clients with a strong breadth of service in our primary business lines; adding Torode to our mix reinforces this goal.”
The acquisition is effective immediately with the physical merger of the offices scheduled to take place October of this year.
“This merger increases the industrial resources available through Colliers,” added Mike Keating, formerly a partner of Torode. “Our goal is to help our clients make the most informed real estate decisions by offering full-service solutions including world-class research, marketing, financing, property management, project management and appraisal services. Folding Torode into Colliers furthers this goal.”
Meanwhile in the world of big international real estate deals The European Commission said it has cleared Morgan Stanley Real Estate’s proposed acquisition for joint control of nine Hilton Hotels. The purchase was examined under the EU’s simplified merger review procedure for cases which the commission believes do not pose competition concerns.
