Colliers to Acquire Market Leading Commercial Real Estate Firm in Italy

Toronto and Milan (ots/PRNewswire) - Acquisition adds another strong
company-owned operation in key European market

Leading diversified professional services and investment management company,
Colliers (NASDAQ: CIGI) (TSX: CIGI), announced today it has entered into an
agreement to acquire a controlling interest in Colliers International Italia
S.p.A., Colliers Real Estate Services Italia S.R.L. and Colliers Real Estate
Management Services Italia S.R.L. (collectively, "Colliers Italy"), which was
previously an affiliate operation. The current shareholders of Colliers Italy,
Ofer Arbib and Giulia Longo, will retain an equity interest in the business
under Colliers' unique partnership model. As a company-owned operation, Colliers
Italy will continue to build on its market leadership position by increasing
service capabilities and leveraging the vast resources of Colliers' strong and
highly innovative platform across Europe. The transaction is subject to
customary closing conditions and is expected to close in the first quarter of
2022. Details of the transaction were not disclosed.

Originally founded in 1996, Colliers Italy has grown to over 80 professionals
providing landlord agency, tenant representation, investment sales brokerage,
property management, valuation and project management services to investors,
developers and occupiers of commercial real estate. Colliers Italy is expected
to generate approximately EUR16 million of revenues for the year ending December
31, 2021.

"Milan and Rome are key European markets with a combined population of over 4.3
million and home to nearly all major Italian businesses and investors," said
Chris McLernon, CEO | EMEA for Colliers. "Colliers Italy has a market leading
position and an experienced team of highly respected professionals with
extensive knowledge of the Italian real estate landscape. This new partnership
will allow Ofer and Giulia to continue their success and leverage the additional
resources of the global business to better serve our clients domestically and
internationally."

"Given our long association with Colliers, this was a natural next step for our
firm. Their enterprising approach and partnership philosophy will provide us
with greater access to the broader Colliers platform to expand our capabilities
and capitalize on the opportunities in our growing market," said Giulia Longo,
co-principal of Colliers Italy.

About Colliers

Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and
investment management company. With operations in 66 countries, our more than
15,000 enterprising professionals work collaboratively to provide expert advice
to real estate occupiers, owners and investors. For more than 25 years, our
experienced leadership with significant insider ownership has delivered compound
annual investment returns of almost 20% for shareholders. With annualized
revenues of $3.3 billion ($3.6 billion including affiliates) and $45 billion of
assets under management, we maximize the potential of property and accelerate
the success of our clients and our people. Learn more at
https://corporate.colliers.com/ , Twitter @Colliers
(https://twitter.com/Colliers) or LinkedIn
(https://www.linkedin.com/company/colliers-international/) .

Photo - https://mma.prnewswire.com/media/1671358/Colliers.jpg

Logo - https://mma.prnewswire.com/media/1671359/Colliers_Logo.jpg

Contact:

Christian Mayer
Chief Financial Officer
[phone]. Chris McLernon
CEO | EMEA
(44) 20 7487 7000

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OTS: Colliers International