Avison Young, the international commercial real estate services firm, announced that it had entered into a definitive agreement to acquire Abood Wood-Fay Real Estate Group, LLC (dba Colliers International South Florida). The purchase of the Miami-based real estate brokerage and property management firm expands Avison Young's Florida offerings, adding 70 employees from Abood Wood-Fay Real Estate Group's Miami, Fort Lauderdale and Palm Beach offices to Avison Young's operations in South Florida. Terms of the acquisition were not disclosed.
"We look forward to welcoming Abood Wood-Fay Real Estate Group to Avison Young," said Mark Rose, chair and CEO of Avison Young. "This strategic acquisition will give Avison Young an even broader client-service platform in the Florida market as we continue to expand our capabilities throughout the U.S. and overseas."
Michael Fay and Donna Abood merged their firms in 2002, and that company aligned with Colliers in 2005, according to a Sun Sentinel report. Fay and Abood will become principals of Avison Young, building business for the firm in Miami."I have a great deal of respect for what they've created," said Pike Rowley, managing director of Florida for Avison Young. "They've been on my radar for quite some time."
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