Home / transaction / Berkshire Global Advisors client Harrison Street Real Estate Capital sells a majority stake to Colliers International
Berkshire Global Advisors client Harrison Street Real Estate Capital sells a majority stake to Colliers International
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  • Berkshire Global Advisors client Harrison Street Real Estate Capital sells a majority stake to Colliers International

  • Date: May 2018
  • Sector: Private Markets - Real Estate / Assets
  • Sub-Sector: Please Provide
  • Region: North America
  • Seller AUM: $14.6 Billion
  • Seller Details
    Harrison Street Real Estate Capital LLC is one of the leading real estate investment management firms exclusively focused on the Education, Healthcare and Storage sectors. The firm has created a series of differentiated investment products across multiple risk/return strategies. Headquartered in Chicago with an office in London, the firm has approximately $14.6 billion in assets under management.

    Buyer Details
    Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is an industry-leading real estate services company with a global brand operating in 69 countries and a workforce of more than 12,000 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates).

    Transaction Summary
    The transaction establishes Colliers as one of the major players in global real estate investment management, providing an important new growth platform that also facilitates the integration of its existing operations in Europe. Colliers’ entrepreneurial operating and partnership philosophy aligns perfectly with Harrison Street, which brings an exceptional group of leaders to its organization and a company recognized by Pension & Investments as a best place to work in money management for the past four consecutive years. The recurring management fees and institutional quality reporting and governance offers Colliers another stable and recurring source of revenue and a tremendous opportunity to create value in the future.

    Colliers provides long-term stability and increased alignment among Harrison Street’s team and limited partners. The relationship strengthens Harrison Street’s global capability and offers unique market knowledge and deep relationships with owners and occupiers of real estate around the world. Colliers’ entrepreneurial culture, decentralized management style, significant insider ownership and proven investment record was another significant difference. Harrison Street’s Co-Founder and Chief Executive Officer, Christopher Merrill, will serve as CEO, lead the operations and remains the largest individual shareholder. Harrison Street’s senior management team will continue to operate the firm’s day-to-day business as it always has, providing long-term stability for all the firms’ stakeholders.