Colliers announced that it has entered into a definitive agreement to acquire Triovest, a leading Canadian commercial real estate services platform, from its owner, Coril Holdings. After the deal closes, Triovest will rebrand as Colliers, merging its operations and capabilities to cement Colliers’ position as Canada’s largest commercial real estate services firm.
These combined Canadian operations will employ over 3,000 professionals, manage more than 95 million square feet of commercial real estate, and oversee more than $15 billion in projects under development. And the deal is subject to customary closing conditions and is expected to close during the second quarter of this year. Terms of the transaction were not disclosed.
Founded in 1995, Triovest grew to become a national platform. Under Coril Holding’s ownership, it is one of Canada’s largest private commercial real estate services firms, managing 36 million square feet and overseeing $2.5 billion in projects under development for some of Canada’s most prominent institutional and private clients.
The company also provides asset management, property management, development management, and advisory services for all major commercial real estate asset classes. For the year ended December 31, 2024, Triovest generated approximately C$70 million in revenues.
KEY QUOTES:
“The addition of Triovest cements our position as the largest real estate services firm in Canada, while strengthening our capabilities in asset and development management. Over the years, we have built a highly differentiated business model by integrating our full suite of services to better meet the requirements of our clients. Our customer-centric culture attracts and retains the top talent in our industry. We are excited to welcome the highly respected and experienced team from Triovest and look forward to their contributions in the years ahead.”
– Brian Rosen, President & CEO Ӏ Colliers Canada
“After many years as a privately held company, we believe now is the time to accelerate Triovest’s growth by merging its operations with Canadian-based Colliers, one of the top global players in commercial real estate. Our firm has worked with Colliers for many years as a client and we are confident that Triovest will now have access to greater resources and global client relationships that will benefit our clients and our people. Moreover, as a significant owner of commercial real estate, Coril will continue to work closely with Colliers, its professionals, and our former team members for our real estate needs.”
– Deanna Zumwalt, President and Chief Executive Officer of Coril Holdings
