Avison Young closes $40-million private equity investment from British Columbia-based Tricor Pacific Capital, Inc.

TORONTO, Ontario, CANADA /PRNewswire/ - Mark Rose (top right photo), Chair and CEO of Avison Young, Canada's largest independently-owned commercial real estate services company, announced today that British Columbia, Canada-based Tricor Pacific Capital, Inc., a leading North American private equity firm, is making an equity investment into Avison Young's common stock to further fund the real estate firm's growth and expansion plan.

The transaction, which closed on October 14, 2011, allows Tricor Pacific

Capital to take a meaningful minority stake in Avison Young through the purchase of common shares - side by side with the current principals of the company - thus maintaining Avison Young's unique position as a private, principal-managed and led company.

Avison Young expects to use the proceeds from the growth-capital investment to further build out its Canadian and U.S. platforms, including further high-profile recruiting and acquisitions in major U.S. markets, as well as adding infill geographic and service lines. Terms of the investment were not disclosed.

Effective immediately, Roderick Senft (middle left photo) and Bradley Seaman (lower right photo), Managing Directors of Tricor Pacific Capital, join the Board of Directors of Avison Young.

"This transaction reinforces the strength of our growth plan and gives

Avison Young one of the industry's strongest balance sheets with which

to complete our North American expansion, with an eye on future growth in Europe and Asia," comments Rose.

"Our Board of Directors, advisors and management team spent considerable time with Tricor over the past several months and we were very impressed with how closely our cultures aligned. Our collective experiences will enable Avison Young to further expand our brand in the U.S. and, eventually, overseas. We believe Tricor is the right partner to assist us in the execution of our compelling strategy."

Robert W. Baird & Co. acted asAvison Young's financial advisor in the transaction and Davies Ward Phillips & Vineberg LLP acted as legal advisors.

Contacts:

: For further information/comment/photos:Sherry Quan, National Director of Communications & Media Relations, Avison Young: (604) 647-5098; cell: (604) 726-0959

Mark Rose, Chair and CEO, Avison Young: (416) 673-4028

Earl Webb, President, U.S. Operations, Avison Young: (847) 881-2237

Tod Hughes, Principal, Avison Young: (403) 265-9552 ext. 226

Roderick Senft, Managing Director, Tricor Pacific Capital, Inc.: (604) 688-7669 ext. 104

Bradley Seaman, Managing Director, Tricor Pacific Capital, Inc.: (847) 295-4427  http://www.avisonyoung.com/

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