Colliers International Group Inc. (CIGI,CIGI.TO), an investment manager, Tuesday announced that it has entered into a definitive agreement to acquire Triovest Inc., a Canadian commercial real estate services platform, from its owner, Coril Holdings. Terms of the transaction were not disclosed.
The deal is expected to close during the second quarter of this year, subject to customary closing conditions.
Triovest, one of Canada's largest private commercial real estate services firms, manages 36 million square feet and oversees $2.5 billion in projects under development for institutional and private clients. The company provides asset management, property management, development management, and advisory services. For the year 2024, Triovest generated approximately C$70 million in revenues.
Following the deal closure, Triovest will rebrand as Colliers, merging its operations and capabilities to solidify Colliers' position as Canadas largest commercial real estate services firm.
The combined Canadian operations will employ more than 3,000 professionals, manage more than 95 million square feet of commercial real estate, and oversee more than $15 billion in projects under development.
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