Colliers International to acquire Triovest, terms not disclosed

Colliers has entered into a definitive agreement to acquire Triovest, a Canadian commercial real estate services platform, from its owner, Coril Holdings. After closing, Triovest will rebrand as Colliers, merging its operations and capabilities to solidify Colliers’ position as Canada’s largest commercial real estate services firm. The combined Canadian operations will employ more than 3,000 professionals, manage more than 95M square feet of commercial real estate, and oversee more than $15B in projects under development. The transaction is subject to customary closing conditions and is expected to close during the second quarter of this year. Terms of the transaction were not disclosed. Founded in 1995, Triovest grew to become a national platform and one of Canada’s largest private commercial real estate services firms under Coril Holding’s ownership, managing 36M square feet and overseeing $2.5B in projects under development for some of Canada’s most prominent institutional and private clients. The company provides asset management, property management, development management, and advisory services for all major commercial real estate asset classes. For the year ended December 31, Triovest generated approximately C$70M in revenues.