Colliers Expands Property Management Business

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Colliers continues to expand the firm’s national property management business with the acquisition of a controlling interest in Arcadia Management Group Inc., a commercial real estate firm focused on southwestern markets.

The firm will operate under Colliers’ partnership model, with Arcadia’s senior leadership retaining a direct equity stake. Financial details of the deal were not disclosed.

Set to rebrand under Colliers’ name, Arcadia’s team of 150 professionals provide a wide variety of services, such as property management and accounting, construction and energy management, as well as due diligence. The firm’s management portfolio encompasses 24 states across the U.S., totaling 60 million square feet of office, industrial and retail properties.

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Arcadia has operated as an independent firm for 36 years. Its partnership with Colliers, which has an operating platform with national and global capabilities, will enable Arcadia to better meet the needs of its client base, as both firms share a collaborative and entrepreneurial culture, said Gary Shaw, regional managing director & partner of Colliers Real Estate Management Services in Arizona, Utah and Austin, Texas, in prepared remarks.

The acquisition of the controlling interest in Arcadia will further expand Colliers’ management portfolio, which now includes 2 billion square feet of assets under management, totaling $87 billion in value and operating in 63 countries.

The announcement of the deal, which is part of the company’s expansion strategy, comes just days after news that Colliers acquired a controlling interest in Versus Capital, and a few months after the firm unveiled its plan to buy a 65 percent stake in Rockwood Capital LLC, which has $12 billion of assets under management.