Colliers Arkansas acquires Hathaway Group property management division

Arkansas commercial real estate companies Colliers Arkansas and Hathaway Group have reached an agreement for Colliers to acquire Hathaway’s property management operations. The two companies shared details about the deal Wednesday (Sept. 6). Financial details were not disclosed.

According to a news release, the acquisition is effective Oct. 1, 2023. Both companies will continue to operate independently with no change in ownership or leadership at either firm. The Hathaway Group will continue its normal brokerage operations.

“We are grateful to our close and respected friends at Hathaway Group to be adding quality properties and people to our management department,” Colliers Arkansas President Isaac Smith said in a prepared statement. “This addition of great real estate assets, as well as the key Hathaway personnel who care for those assets, really strengthens our ability to continue meeting the needs of our clients.”

In the news release, company officials explained that the transaction was triggered by a decision at Hathaway Group to focus entirely on its real estate brokerage operations, which delivered the company’s highest production numbers in its 46-year history during 2022.

“We took an honest and in-depth look at our strengths and weaknesses and concluded that a laser focus on our brokerage business will be best for our clients and for us.,” said Jeff Hathaway, president of Hathaway Group. “The next step was to find a great home for our loyal management clients and for the valuable team members in our property management division. The clear choice for that was Colliers and they’ve been great to work with during the implementation of this change.

“We’re very excited about them managing the day-to-day details of properties that we and our clients own, and also about our non-traditional decision to narrow rather than broaden the services we offer.”