Tricor’s Avison Young completes buy of Colliers International South Florida

Avison Young Inc has completed its previously announced buy of Abood Wood-Fay Real Estate Group LLC, a commercial real estate brokerage and property management company that operates as Colliers International South Florida. The acquisition’s value was not disclosed. Avison said the deal expands its business-line coverage in Florida. A Toronto-based commercial real estate services provider, Avison has been a portfolio company of Canadian mid-market private equity firm Tricor Pacific Capital since 2011.

PRESS RELEASE

Avison Young closes acquisition of Miami-based Abood Wood-Fay Real Estate Group, dba Colliers International South Florida

Purchase expands Avison Young’s business-line coverage in South Florida;

Michael Fay, Donna Abood and John Crotty join as Principals

TORONTO, Dec. 2, 2014 /CNW/ – Mark E. Rose, Chair and CEO of Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has closed the previously-announced acquisition of Miami, Florida-based commercial real estate brokerage and property management firm Abood Wood-Fay Real Estate Group, LLC (dba Colliers International South Florida). Terms of the acquisition, which closed on December 1, 2014, were not disclosed.

The purchase significantly expands Avison Young’s business-line coverage in South Florida and throughout the state. Michael Fay and Donna Abood have become Principals of Avison Young and Managing Directors of Avison Young’s Miami office, focused on overseeing the growth of Avison Young’s presence in the Miami region. John Crotty, Executive Vice-President of Abood Wood-Fay Real Estate Group, has also become a Principal of Avison Young. In addition to these three new Principals, Abood Wood-Fay Real Estate Group professionals in leasing, investment sales and property management from the Miami, Fort Lauderdale and Palm Beach offices have also joined Avison Young.

“Avison Young welcomes Michael, Donna, John and Abood Wood-Fay’s other top producers to our Principal-led company,” comments Rose. “We are thrilled to have added such a talented group in Miami and South Florida to our exceptional existing team. The combination of our current resources with the leading professionals of Abood Wood-Fay greatly strengthens our market share and enhances our support structure to serve our robust client base. This strategic acquisition will give Avison Young an even broader client-service platform in the Florida market as we continue to expand our capabilities throughout the U.S. and overseas.”

“Many firms have approached us over the years to acquire our established operation, and although we have grown and enjoyed our partnership with Colliers these past nine years, Avison Young has an amazing opportunity for our clients and our teams,” says Fay.

Adds Abood: “We have always valued our relationships with our clients more than the transactions, and the Avison Young team is the epitome of that client-centric culture. The team is made up of heavy hitters from other national firms – all joined under the Avison Young flag, with a tremendous level of integrity and skill. We look forward to working with our new colleagues in Florida, and across the U.S. and Canada, and in Europe.”

Today’s announcement comes on the heels of Avison Young opening a new office in Frankfurt, Germany on December 1, 2014, and Avison Young acquiring Orlando, Florida-based MCRE, LLC (dba Morrison Commercial Real Estate) and opening a new office in Orlando on November 13, 2014.

Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,700 real estate professionals in 62 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.

For further information/comment/photos:

• Sherry Quan, Principal, National Director of Communications & Media Relations, Avison Young: 604.647.5098; mobile: 604.726.0959
• Mark Rose, Chair and CEO, Avison Young: 416.673.4028
• Michael Fay, Principal, Avison Young: 305.447.7843
• Donna Abood, Principal, Avison Young: 305.446.0011

www.avisonyoung.com

Avison Young was a winner of Canada’s Best Managed Companies program in 2011 and 2012 and requalified in 2013 to maintain its status as a Best Managed company.

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SOURCE Avison Young Commercial Real Estate (BC)

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