Property firm
takes partner

Monroe & Friedlander teams
with Canadian firm

By Rick Daysog
Star-Bulletin

Monroe & Friedlander Inc., Hawaii's largest commercial real estate companies, is teaming up with a Canadian real estate giant.

Monroe & Friedlander announced yesterday that it has become a shareholder of Colliers International Property Consultants Inc. and will change its name to Colliers Monroe Friedlander.

Terms of the deal were not disclosed but Andrew Friedlander, co-founder of the local real estate company, said the current ownership structure of Monroe & Friedlander will remain unchanged.

He said Monroe & Friedlander will be joining an organization which operates 220 offices on six continents, including Asia. The partnership will give the local company increased access to foreign and mainland real estate buyers for Hawaii properties.

It also fulfills Colliers' decade-long interest in establishing a foothold in Hawaii's commercial real estate market.

"Hawaii is a natural location for Colliers," Friedlander. "Our strategic geographic location, located right in between these two major markets where Colliers has a commanding presence, is an obvious advantage."

Established in 1973, Monroe & Friedlander also has two affiliated companies, Monroe & Friedlander Management Inc. and M&F Consulting, that also will be combined with Colliers. It employs more than 110 employees locally.

Colliers, based in Vancouver, employs more than 4,400 professionals and reported annual revenues of about $678 million in 1997. Its largest unit, Colliers McCaulay Nicholls Inc., traces its history back about 100 years.

The company's Asia operation, Colliers Jardine, is half owned by Jardine Matheson of Hong Kong, which also owns Theo. H Davies & Co. of Honolulu.