Colliers International, a subsidiary of FirstService Corp., has announced a new strategic alliance with Heritage Global Inc., an asset advisory and auction services firm.
According to Colliers, the alliance expands Colliers' services, allowing both companies to jointly pursue opportunities for turnkey brokerage of distressed manufacturing facilities.
‘This agreement with Heritage Global gives our brokers a unique perspective and advantage in distressed market assets,’ says Dwight Hotchkiss, president of brokerage services for Colliers. ‘Distressed properties often bring a multitude of challenges to investors and lenders, and this partnership will offer our clients new ways to manage assets and mitigate risk.’
Through this partnership, Colliers says it can implement several approaches in the distressed assets space: live on-site and online global real estate and equipment auctions, as well as strategic acquisition of industrial real estate, turnkey manufacturing facilities and surplus equipment worldwide.
