- What Colliers is in talks to buy commercial real estate firm Triovest
- Why Multiple brokerages including CBRE and Avison Young bid on the business
- What next It’s unclear exactly how far along negotiations are, but market pros say the deal is nearing completion
Colliers is in talks to buy commercial real estate firm Triovest, Green Street News can reveal.
It’s unclear exactly how far along negotiations are and where pricing has landed, but market pros say the deal is nearing completion. The acquisition includes the leasing, property management and asset management divisions of Triovest’s business, all of which would boost existing units at Colliers.
Other brokerages that bid on the business include CBRE and Avison Young.
Alongside the aforementioned divisions, Triovest also has investment management and development arms. The company manages 36m sq ft of real estate, valued at $10.8bn, and has $2.5bn in assets under development. It employs 428 people and has six offices, with its corporate headquarters in Toronto.
Triovest is a wholly owned subsidiary of Coril Holdings, a family-owned private asset manager based in Calgary. Stephen Mannix is executive chair. The company was founded by his father, Ron Mannix; the family’s involvement in Canadian business dates to 1898.
Last month, Coril Holdings sold the Hyatt Regency Calgary for up to $145m in the city’s second-largest hotel deal on record.
Colliers is a publicly traded professional services and investment management company. The company manages 2bn sq ft of real estate with US$99bn in assets under management. It operates in 70 countries and employs 23,000 people. Jay Hennick is global chair and chief executive of the Toronto-based company.
Colliers reported US$4.82bn in revenue in 2024. At yearend, the company had US$176.3m in cash and US$1.5bn in total debt. Colliers spent US$542.3m on acquisitions in 2024, a figure that includes business acquisitions, contingent acquisition considerations and purchases of noncontrolling interests in subsidiaries.
