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Tuesday, 15 May 2018

Colliers to Buy 75 Percent Stake in Harrison Street Real Estate Capital

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Colliers International has agreed to pay $450 million for a 75 percent stake in Harrison Street Real Estate Capital.

Harrison Street, a Chicago investment manager, could also receive an additional $100 million in 2022 if it meets certain financial targets. The deal is expected to close by the third quarter of this year.

Christopher Merrill, Harrison Street's co-founder, will continue to serve as the its chief executive and remain the largest individual shareholder. The rest of the company's senior management will keep their jobs and run the day-to-day operations.

"In addition to its best-in-class returns, we were particularly attracted to Harrison Street's focus on attractive real estate asset class strategies; massive segments offering significant,...


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Additional Info

  • Syndicate to Realpoint: No
  • Subject: Brokerage Firms-general (BROK), Mergers & Acquisitions (M&A)
  • Company: Colliers International
  • Private: Yes
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