Global commercial real estate services and investment management firm Colliers International has completed its previously announced acquisition of a controlling interest in Dougherty Mortgage, Dougherty Funding, Dougherty & Company and Dougherty Insurance Agency (together, “Dougherty”).
Dougherty’s senior leadership team will continue to drive operations and will remain significant shareholders. Headquartered in Minneapolis, with more than 250 professionals operating from nine offices, Dougherty provides mortgage banking, loan servicing, mortgage brokerage and investment banking services across 21 U.S. states.
Dougherty originates $2.5 billion of real estate loans annually, services $7 billion in real estate loans and generated revenue in excess of $100 million in 2019.
Dougherty’s mortgage banking operations have rebranded as Colliers Mortgage and will continue to provide specialty real estate debt financing for multifamily, healthcare and senior housing real estate through U.S. Government-Sponsored Enterprises. This includes origination, underwriting, asset management and loan servicing for Fannie Mae, the Federal Housing Administration/U.S. Department of Housing and Urban Development and for the U.S. Department of Agriculture.
In addition, Colliers Mortgage will originate and service a broad range of other commercial real estate loans for real estate owners and developers nationwide. Going forward, all brokerage, investment banking, capital markets and public finance services will be carried on through newly branded Colliers Securities which is licensed under the Securities and Exchange Commission and is a member of the Financial Industry Regulatory Authority.
“Finalizing this new partnership establishes Colliers as a top player in agency and commercial debt finance as well as public finance advisory which, together with our rapidly growing investment sales capabilities, enables us to seamlessly advise clients on all capital markets requirements across the U.S.,” said Gil Borok, President & CEO, Colliers International | U.S. “We welcome this highly talented and entrepreneurial group into the Colliers family, and we look forward to working together to accelerate the success of our clients.”
“Given our shared entrepreneurial culture and commitment to excellence, our team will hit the ground running,” said David Juran, Chief Executive Officer and largest individual shareholder of Dougherty. “We plan to leverage Colliers’ talented professionals and clients across the U.S. in a real win-win proposition, and capitalize on additional opportunities through our new partnership with Colliers’ subsidiary, Harrison Street Real Estate Capital. We could not be more thrilled and look forward to providing greater capabilities to our combined client base.”