Colliers International (CIGI +0.3%) has completed its previously announced, strategic investment in Harrison Street Real Estate Capital LLC.
Harrison Street Real Estate has ~$14.6B in assets under management.
Colliers acquired 75% of Harrison Street, with the senior management team of Harrison Street owning the balance of the equity.
Colliers expects the annual run rate of management fee revenue to be ~$100-115M.
“Closing of the Harrison Street transaction establishes Colliers International as one of the major players in global real estate investment management, provides an important new platform for growth and facilitates the integration of our existing real estate investment management operations in Europe,” said Jay Hennick, Chairman and CEO of Colliers International.
Source: Press Release
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