CBRE affiliates joining Colliers
Colliers International Group Inc. announced on Monday it agreed to acquire a majority interest in CB Richard Ellis of Virginia Inc. The CBRE affiliate will be rebranded as Colliers International | Virginia beginning in January.
J. Scott Adams, a CBRE regional president of the mid-south affiliate offices, will become president of Colliers International | Virginia.
In October, CBRE Inc. and CB Richard Ellis of Virginia announced plans to end their affiliate agreement on Dec. 31. CBRE Inc. plans to operate as a wholly-owned business in Virginia beginning in January.
The Colliers International | Virginia deal is planned to close by January. In the meantime, the CBRE affiliate offices in Fredericksburg, Charlottesville, Hampton Roads and Richmond will continue to operate under the CBRE brand.
Terms of the transaction were not disclosed.