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United Country Auction Services
Teams with
Colliers International to Offer
Accelerated Asset
Resolution Services for
Commercial Real Estate
December 18, 2008 (KANSAS CITY,
MO, and BOSTON, MA) – United
Country Auction Services, a
division of United Country Real
Estate, Inc. (United Country),
and Colliers International
(Colliers) announced today a
strategic alliance to provide
accelerated commercial real
estate transaction services to
their respective commercial real
estate clients.
Accelerated marketing of
commercial real estate involves
setting a specific date for the
sale of an asset and completing
a saturation marketing effort to
promote the asset for sale at
the predetermined date.
Accelerated marketing events are
generally completed through
the auction or sealed bid
process.
“It’s likely that a large number
of commercial assets nationwide
will need to be sold in the next
12 months, and auctions are an
ideal solution when seller
requirements dictate,” said
Patrick Duffy, chairman of
Colliers’ National Retail Group.
“The auction event is an
excellent vehicle to expose an
asset for sale to motivated and
capable buyers, establish
urgency through the date-certain
aspect of the process and obtain
the best, most transparent price
for the seller through a
competitive bidding process. We
believe combining the resources
of our two organizations creates
a unique opportunity for clients
to realize current market value
in a predictable time frame, so
they can clean out their balance
sheets, adjust their commercial
real estate portfolios and turn
their attention back to their
core business.”
While auctions have been
utilized regularly for unique
luxury properties, farm and
ranch land, fine art and
collector automobiles, their use
in commercial real estate
transactions waned following the
Resolution Trust Corporation (RTC)
disposition market of the late
1980s and early 1990s. In recent
years, however, the expediency
and effectiveness of this sales
and marketing method has
reignited the popularity of
auctions in commercial real
estate sales. In 2007, $15.7
billion of commercial and
industrial real estate was sold
via the auction method of
marketing.
Mike Jones, president of United
Country Auction Services, said,
“As the nation’s largest
integrated real estate auction
network with 675 offices, 4,000
agents and more than 140
dedicated, experienced auction
professionals, United Country
brings the support platform,
accelerated marketing and
auction expertise to this
effort. With 11,000 employees
in 61 countries, Colliers brings
first-tier local commercial real
estate expertise and global
marketing reach. We believe that
this team represents one of the
most powerful asset-disposition
platforms ever assembled for
commercial real estate, and we
are proud to be working with
Colliers to offer this enhanced
and differentiated solution to
our collective client base.”
Colliers’ alliance with United
Country Auction Services
represents one of the tools
deployed for clients by Colliers
Asset Resolution Services,
launched last month to respond
to the demands and needs of
banks, financial institutions
and special servicers amid a
dramatically changing commercial
real estate marketplace.
“Our professionals are committed
to providing innovative
solutions through a broad set of
front-line skills, strategic
alliances and resources to deal
with complex real estate
challenges,” said Carolyn Sidor,
Executive Vice President of U.S.
Operations for Colliers and a
member of Colliers’ Asset
Resolution Services leadership
team. “Our full range of
services is tailored to the
entire asset life cycle. These
capabilities, coupled with the
strength of our local
principals, allow us to proceed
with speed and agility to
achieve stabilization for each
asset.”
Asset managers and investors who
are interested in learning more
about the accelerated commercial
real estate asset resolution
services offered by Colliers and
United Country may contact
either Patrick Duffy at
patrick.duffy@colliers.com or
Mike Jones at
mikejones@unitedcountry.com.
About Colliers International
Colliers International is a
global affiliation of
independently owned commercial
real estate firms.
The organization's 11,000
employees span the world in 293
offices in 61 countries. On a
worldwide basis, Colliers
manages 868 million square feet
and has revenue of $US 2.0
billion.
About United Country
United Country Real Estate
is the largest integrated real
estate and auction company in
the U.S.
Based in Kansas City, Mo., the
company has been an innovator in
real estate marketing since
1925. United Country supports
675 offices nationwide with a
unique, comprehensive marketing
program that includes one of the
largest portfolios of property
marketing web sites (over 750
separate sites), publishes seven
proprietary real estate catalogs
with a cumulative distribution
of 1.5 million, an extensive,
current buyer database and
national advertising of
properties to more than 90
million potential buyer
prospects
a week. United Country has been
recognized as a Top 25 Franchise
by the Wall Street Journal and
among Entrepreneur Magazine's
Franchise 500®.
NATIONAL HEADQUARTERS
2820 NW Barry Road, Kansas City,
MO 64154
816-420-6200
www.unitedcountry.com |
