FirstService Corporation is a global leader in the rapidly growing real estate services sector. As one of the largest property managers in the world, FirstService manages more than 2.3 billion square feet of residential and commercial property and operates through three service platforms: Colliers International, one of the top global players in commercial real estate services; FirstService Residential, North America's largest manager of residential communities; and Property Services, a leading North American provider of essential property services, delivered through company-owned operations, franchise systems and contractor networks.
Colliers International is one of the world's top global real estate service organizations, offering comprehensive commercial property services to investors, property owners, tenants and developers worldwide. More than 13,500 Colliers professionals in 482 offices worldwide are united by a spirit of enterprise - they take initiative, think creatively, collaborate and use their expertise to deliver outstanding business outcomes through personal attention to client needs. 2012 was the best year to date for Colliers. Continued investment in the platform enabled Colliers to create innovative and improved services for its clients, leading to record global revenues and a significant increase in average income per professional.
FirstService is North America's largest manager of residential communities. FirstService Residential administers client expenditures of more than $6 billion annually while managing the daily operation and maintenance of properties under management. The goal of FirstService Residential is to enhance the property values of the properties it manages and the lifestyles of the residents. To achieve this, FirstService Residential leverages its scale, expertise and local knowledge to deliver service excellence and provides value added services, that save clients money with enhanced energy management through FS Energy or through innovative financial products through FirstService Financial Inc.
This division also includes American Pool Enterprises, the largest commercial swimming pool and recreational facility management operation in North America.
The Property Services division is one of North America's largest providers of essential property services, delivered through company-owned operations, franchise systems and contractor networks. FirstService Brands offers essential property services delivered through franchise and company-owned operations. More than
1,800 franchisees generate in excess of $1.1 billion in system-wide sales. FirstService Brands has a business model that leverages decentralized platform management, while centralizing business and strategic planning, brand development and the sharing of best practices.
This division also includes Field Asset Services, a leading provider of property preservation and distressed property management services to the residential mortgage industry, and delivered through a large network of third party contractors.
Field Assest Services
Value Added Services
We leverage our scale to create value for our clients in Energy, Insurance, Financial Products and Loan Placement Services.
In 2008, we launched FS Energy with a commitment to reduce energy costs across our portfolio 25%. FS Energy is becoming a knowledge leader in multifamily energy efficiency. FS Energy takes a unique, holistic approach to energy management by applying state of the art data analysis to evaluate a property's energy consumption. We then customize cost-effective solutions that reduce energy expenses, boost efficiency and shrink environmental impact. Our mission is to reduce energy costs and carbon by 25% across our clients' properties.
The core of our success is our proprietary, industry-leading FSdata benchmarking database, which comprises years of comprehensive historical data for hundreds of residential and commercial buildings representing a variety of diverse building types.
FS Energy provides a suite of comprehensive solutions including:
- FS Data benchmarking
- Demand management
- Retrofits and capital improvements
- Education and compliance
- Energy efficiency solutions
- Energy assessments
- Billing Audits
FirstService Financial, Inc.
In 1997 we established FirstService Financial to leverage our size and expertise to create value for our property management clients. Over the years, our focus at FFI has narrowed to three areas that provide tangible value while creating significant competitive advantages for our operations: Insurance, Financial Products and Loan Placement Services.
We manage over 7,000 residential and commercial properties in North America with an estimated insured value of $200 billion. Our extensive database tracks all policy and claims information across that portfolio. We have leveraged the data and commissioned actuarial reports that demonstrate our managed properties have better long-term claims experience than the broader market. This unique data enables us to offer risk management solutions that are unmatched in terms of coverage and price.
In 2012 we expanded our distribution capability so that we can offer our insurance expertise to all clients in North America. During the year we completed new insurance placements with over 2,800 clients - in each case offering better coverage at lower cost.
Insurance costs are a substantial component of our clients' operating budgets - averaging 10%. Our ability to reduce this cost has delivered significant value and created a tangible differentiator for FirstService.
Each of our 7,000 North American clients have operating bank accounts and most have separate reserve and escrow bank accounts. We have consolidated these separate accounts into select top tier banking institutions - creating value for our clients by eliminating bank fees on operating accounts and delivering significantly higher interest rates on reserve and escrow funds.
In 2012 the average daily deposits in our partner banks grew to over $2 billion. The consolidation of these accounts created more than $15 million in value, either through incremental returns to our clients or the elimination of fees. Our efforts to help our clients better manage their cash deposits has delivered significant value to them while creating another tangible differentiator for FirstService.
Loan Placement Services
Working with affiliates across North America, FirstService Financial has facilitated or assisted in loan placements in excess of $750 million for Cooperative Condominium and Homeowner Associations. As an agent for our affiliates, FFI assists Associations to fulfill their financing requirements with flexibility, certainty and simplicity. FFI solicits proposals from banks, insurance companies and other lenders to provide new financing or refinancing at the most competitive interest rates and terms currently available. FFI leverages its size and depository relationships to deliver a superior product. In 2012 we launched a data service for our partner banks which enables them to perform the credit analysis on associations outside of the traditional FNMA underwriting model.