Canada-based Colliers International plans to acquire an unspecified “controlling interest” in four subsidiaries of Minneapolis-based Dougherty Financial Group. The privately held firm was founded more than 40 years ago by CEO Mike Dougherty.
Terms of the transaction were not disclosed by publicly traded Colliers.
Colliers said 250-employee, nine-office Dougherty, which originates more than $2.5 billion of real estate loans annually and services more than $7 billion, is projected to generate 2019 revenue of $100 million.
“This investment firmly establishes Colliers as one of the leading players in multifamily debt and public finance capital markets in the U.S., marking a significant milestone as we continue to grow and develop our full-service capital markets capabilities,” said CEO Gil Borok of Colliers International-U.S. “Combined with our current capabilities in investment sales and debt capital markets, this acquisition provides Colliers important depth, experience and growth opportunities to provide our clients with the best solutions in debt finance and advisory services.”
Dougherty’s senior leadership will continue to manage operations as “significant shareholders, maintaining the high-quality service clients expect with the additional backing of a global platform.”…