Colliers International Group has acquired a controlling interest in leading financial and strategic advisory firm, IREA Corporate Finance S.L. and merged its existing operations to create one of Spain’s top players in the real estate and hotel markets. The senior leaders of both operations will remain significant shareholders of the combined business under Colliers International’s partnership model. Terms of the transaction were not disclosed.
“The partnership with Colliers is the next evolution of our business given our shared culture and commitment to excellence,” said founding partner Mikel Echavarren who will assume the role of CEO and country leader of Colliers International Spain. “Although our firm enjoyed tremendous success over the years, aligning with a global brand with an international platform second to none, will enable our professionals to better serve our clients. We are extremely excited about the opportunities ahead and look forward to continuing to provide best in class real estate services to our clients seamlessly, anywhere in the world.”
“The Spanish market has seen significant growth over the past few years, providing an opportune time to elevate our business with the highly regarded group of professionals from IREA and take us to the next level,” said Chris McLernon, Colliers International CEO EMEA. “Having more than tripled the size of our business in Europe over the last 5 years, this latest combination of capabilities and professionals puts Colliers in an enviable position in Spain, one of the region’s most important markets, setting the stage to accelerate the success of our clients, wherever they choose to do business,” he concluded.
