Colliers Takes Advantage of DTZ/C&W Merger Shakeup
In what's being dubbed the "Cushman effect," real estate giant Colliers International Group is using the shakeup from the $2B Cushman & Wakefield/DTZ merger to bolster its roster.
In addition to talent leaving, Cushman is dropping affiliates for corporate offices, leaving Colliers free to buy up abandoned affiliate firms, such as Summit Realty Group.
Colliers bought the group Dec. 1, the day after it split from Cushman. Colliers president Craig Robinson says that as organizations focus on post-merger business, it has the chance to focus on clients, CoStar reports.
Colliers also swooped in to grab Dallas commercial real estate executive Steve Everbach from C&W in December.
The mergers and acquisitions leave midsized firms two options: go small to be experts in their niche market, or go big and get bought up by one of the big firms like Colliers or C&W.
"Firms that are very strong in their local markets or in designated areas understand they need to be part of a global platform," Craig says. [CoStar]