COLLIERS INTERNATIONAL ANNOUNCES AGREEMENT WITH HERITAGE GLOBAL PARTNERS
Strategic alliance will strengthen expertise
in distressed asset advisory services at Colliers
SEATTLE, Oct. 31, 2013 – Colliers International today announced a new strategic alliance with Heritage Global Inc. – a value-driven, innovative leader in distressed and surplus capital assets valuations and transactions – which expands Colliers’ platform of services, allowing both companies to jointly pursue opportunities for turnkey brokerage of distressed manufacturing facilities.
“This agreement with Heritage Global gives our brokers a unique perspective and advantage in distressed market assets,” said Dwight Hotchkiss, President, Brokerage Services for Colliers International | USA. “Distressed properties often bring a multitude of challenges to investors and lenders, and this partnership will offer our clients new ways to manage assets and mitigate risk.”
“We’re excited to partner with Colliers International and extend our portfolio of services to their clients,” said Ross Dove, Managing Partner for Heritage Global Partners. “As experts in identifying, valuing, acquiring and monetizing distressed and surplus capital assets, our team looks forward to the opportunity to working alongside Colliers professionals in helping our mutual clients achieve success.”
Through this engagement with Heritage Global, Colliers can implement a variety of approaches in the distressed assets space, including:
- Live onsite as well as online global real estate and equipment auctions.
- Strategic acquisition of industrial real estate, turnkey manufacturing facilities, and surplus equipment worldwide.
Heritage Global’s capabilities extend to industrial inventories, accounts receivable portfolios and related intellectual property, as well as demolition and salvage services through their partnership with Becker Iron & Metal, one of the nation’s leading scrap metal recyclers.
Heritage Global has a number of other long-standing relationships with clients in such industry sectors as aerospace, pharmaceuticals, data centers, food processing, and textiles and energy, which will benefit from Colliers’ existing complementary services.
ABOUT COLLIERS INTERNATIONAL
Colliers International is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV, TSX: FSV), Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.
ABOUT HERITAGE GLOBAL PARTNERS
Led by auction industry pioneers Ross and Kirk Dove, Heritage Global Partners is one of the leading worldwide asset advisory and auction services firms, assisting companies with buying and selling assets. HGP specializes in asset brokerage, inspection, and valuations, industrial equipment and real estate auctions, and much more. HGP is a subsidiary of Heritage Global Inc. (OTCQB:HGBL).