FirstService Real Estate Advisors Invests in Colliers CRE

SEATTLE and LONDON, October 6 /PRNewswire/ -- FirstService Real Estate Advisors (http://www.firstservicerea.com/ ) ("FirstService REA"), a subsidiary of FirstService Corporation (Nasdaq: FSRV; TSX: FSV and FSV.PR.U), and Colliers CRE today announced that FirstService REA will become the cornerstone investor in Colliers CRE's ( http://www.collierscre.com/ ) recent equity offering. Continuing its aggressive growth strategy, this is FirstService REA's first significant move into Western Europe. With 15 offices in the UK, Ireland and Spain, Colliers CRE provides a broad range of real estate consultancy services throughout all of its markets.

"With FirstService REA's strong presence in Central, Eastern and Southeast Europe, Russia, Asia, Latin America and our growth in North America, this investment will greatly enhance our ability to efficiently and effectively service our global clients," said Douglas P. Frye, CEO and president of the global operations for FirstService REA. "Colliers CRE has an operating philosophy very similar to ours and the combination is a perfect fit."

"Colliers CRE, like FirstService REA, believes strongly in providing clients with advice and service of the highest quality through integrated specialist teams. This is what builds long-term relationships," said David Izett, Group Chief Executive of Colliers CRE. "Our operations, combined with FirstService REA's global footprint, establish another real alternative for multi-national firms."

FirstService REA will gain two seats on Colliers CRE's board and will input significantly to the day-to-day operations of the firm. With the investment in Colliers CRE, FirstService REA now has offices in most of the world's top commercial real estate markets, including London, New York, Moscow, Los Angeles, Hong Kong, Shanghai, Toronto, Washington, DC, Atlanta, and Sydney.

With more than 730 employees, over 300 of whom are Royal Institution of Chartered Surveyors (RICS) qualified, Colliers CRE provides a broad range of real estate services through its transactional, professional and consultancy divisions, including investment, leasing, tenant representation, valuation, property management and building consultancy, to both UK and international clients.

The Colliers CRE Group comprises:

    
    - Colliers CRE, the UK surveying firm, including Colliers Robert Barry, 
      the hotels specialist; Colliers Godfrey Vaughan, the Central London 
      office specialist; Colliers Capital, the fund management division; 
      Locum Destination Consulting and Deanwater Estates property 
      co-investment
    - Colliers International in Spain, and
    - Colliers Jackson-Stops in the Republic of Ireland.

FirstService REA's investment in Colliers CRE is the latest of many recent announcements by the firm as it establishes a presence in new markets and hires some of the industry's top talent. Most recently, FirstService REA announced that it has established an office in Washington, DC to service the Capitol region and nearby Baltimore, Maryland. It also opened offices in Richmond, Virginia and Atlanta, Georgia.

Late last year, FirstService REA announced its acquisition of Manhattan-based GVA Williams (now FirstService Williams), which also has offices in New Jersey and Connecticut and has since opened an additional office in Westchester County, New York. Among recent hires at FirstService REA are Dylan Taylor, president of USA operations; Mike Kent, president of the US property management division; and Scott Nelson, president of client solution design.

About FirstService Real Estate Advisors

FirstService Real Estate Advisors ("FirstService REA") is the emerging leader in the global professional services industry. As the fastest growing and fourth largest commercial real estate services firm in the world, FirstService REA has strategically integrated industry leading service providers in key areas of specialization to deliver consistent and measurable results for occupiers, developers and investors in real estate. FirstService REA operates in 37 countries around the world. In North America, FirstService REA provides services through the leading real estate brands: FirstService REA, Colliers International, FirstService Williams, PGP Valuation, PKF Hospitality, and MHPM Project Leaders.

About FirstService Corporation

FirstService Corporation (Nasdaq: FSRV; TSX: FSV and FSV.PR.U) is a global diversified leader in the rapidly growing property services sector, providing services in the following three areas: commercial real estate, residential property management, and property services. The industry-leading service platform includes: FirstService Real Estate Advisors, the fourth largest global player in commercial real estate services; FirstService Residential Management, the largest manager of residential communities in North America; and TFC, North America's largest provider of property services through franchise and contractor networks.

FirstService generates more than US$1.7 billion in annualized revenues and has more than 18,000 employees worldwide. More information about FirstService is available at www.firstservice.com.