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CBRE Group, Inc. is the largest commercial real estate services and investment firm in the world.[1] It is based in Los Angeles, California and operates more than 450 offices worldwide and has clients in more than 100 countries.[1]

CBRE Group, Inc.
Public company
Traded as NYSECBG
S&P 500 Component
Industry Real estate
Founded 1906
Number of locations
450 (2016)[1]
Area served
Worldwide
Key people
[1]
Products Commercial real estate services
Revenue Increase US$13.071 billion (2016)[1]
Decrease US$0.815 billion (2016)[1]
Increase US$0.584 billion (2016)[1]
Total assets Decrease US$10.779 billion (2016)[1]
Total equity Increase US$3.014 billion (2016)[1]
Number of employees
75,000 (2016)[1]
Website cbre.com

Services provided by the company include facilities management services to occupiers of commercial real estate as well as property management, leasing, capital markets, appraisal, and brokerage services to owners of commercial real estate.[1] The CBRE Global Investors division sponsors real estate investments via investment funds and direct investments that it manages. As of December 31, 2016, the division had $86.6 billion in assets under management.[1]

The company is ranked #214 on the Fortune 500[2] and has been included in the Fortune 500 in every year since 2008.[1] The company receives business from 90 of the top 100 companies on the Fortune 100.[1]

In 2016, the company received 55.3% of its revenue from the Americas, 30.0% of revenue from Europe, the Middle East and Africa, and 11.4% of revenue from the Asia Pacific region.[1]

HistoryEdit

On August 27, 1906, following the 1906 San Francisco earthquake, Tucker, Lynch & Coldwell was established. In 1940, the company was renamed Coldwell Banker. In 1981, Coldwell Banker was acquired by Sears.[3]

In 1989, Sears sold Coldwell Banker to a management-led buyout group that included The Carlyle Group for $305 million.[4] The company was renamed CB Commercial.

By 1991, the company was suffering financially due to debt taken on from the leveraged buyout.[5]

In 1995, the company acquired Westmark Realty Advisors for $37.5 million.[6]

In 1996, the company acquired L.J. Melody & Co. for $15 million.[7]

In 1996, the company became a public company via an initial public offering.[8]

In 1997, the company acquired Koll Real Estate Services for $145 million.[9][10]

In 1998, the company merged with Richard Ellis International (REI) Limited and changed its name to CB Richard Ellis. The company also acquired Hillier Parker May & Rowden for $69 million.[11]

In 1999, the company acquired LirAntunez Propiedades SA, based in Chile,[12] and merged its Japanese operations with Ikoma.[13]

In 2001, the company was taken private by an investment group led by Blum Capital in an $800 million transaction.[14]

In 2003, the company acquired Insignia Financial Group for $415 million in cash.[15][16]

On June 10, 2004, the company once again became a public company via an initial public offering.[8]

In 2006, the company was added to the S&P 500 Index.[17]

In December 2006, the company acquired Trammell Crow Company for $2.2 billion.[18][19]

In 2010, Gil Borok was promoted to chief financial officer of the company.[20]

In 2011, the company acquired the real estate investment management business of ING Group for $940 million.[21]

In 2011, the company changed its name to CBRE Group Inc.[22]

In 2012, CEO Brett White retired and was replaced by the former president, Robert Sulentic.[23]

In 2016, the company acquired Skye Group.[24]

In 2017, the company acquired Floored[25] and Mainstream.[26]

ReferencesEdit

  1. ^ a b c d e f g h i j k l m n o CBRE Group, Inc. 2016 Form 10-K Annual Report
  2. ^ "Fortune 500: CBRE Group". Fortune Magazine. 
  3. ^ Rowe Jr., James L. (October 6, 1981). "Sears to Acquire Coldwell, Banker Real Estate Firm". The Washington Post. 
  4. ^ "Coldwell Banker Commercial: Global Network". 
  5. ^ "Aerospace". Los Angeles Times. October 3, 1991. 
  6. ^ PETRUNO, TOM (June 1, 1995). "CB Commercial to Acquire Westmark Realty: Real estate: Deal between L.A. firms will create $4-billion portfolio of managed property". Los Angeles Times. 
  7. ^ Dawson, Jennifer (October 3, 2005). "L.J. Melody changes name to CBRE Melody". American City Business Journals. 
  8. ^ a b Vincent, Roger (June 10, 2004). "CB Richard Ellis Stock Offering Brings in a Total of $454.9 Million". Los Angeles Times. 
  9. ^ GRANELLI, JAMES S.; FULMER, MELINDA (March 19, 1997). "CB Commercial to Buy Koll Real Estate Services in $145-Million Deal". Los Angeles Times. 
  10. ^ "CB Commercial to acquire California's Koll Real Estate". American City Business Journals. March 19, 1997. 
  11. ^ "CB RICHARD ELLIS ACQUIRES HILLIER PARKER FOR $69 MILLION". Reuters. The New York Times. July 9, 1998. 
  12. ^ Chema, Steve (February 10, 1999). "CB Continues Global Expansion". CoStar Group. 
  13. ^ "CB Richard Ellis, Ikoma to Merge in Japan". Bloomberg News. Los Angeles Times. January 27, 1999. 
  14. ^ FRANCISCO, BAMBI (February 25, 2001). "CB Richard Ellis is going private". Marketwatch. 
  15. ^ Vincent, Roger (February 19, 2003). "CB Richard Ellis to Buy Insignia". Los Angeles Times. 
  16. ^ Corfman, Thomas A. (February 19, 2003). "CB Richard Ellis acquires Insignia". Chicago Tribune. 
  17. ^ MANTELL, RUTH (November 6, 2006). "S&P announces index changes". Marketwatch. 
  18. ^ Haddad, Annette (November 1, 2006). "CB Richard Ellis to buy major rival". Los Angeles Times. 
  19. ^ "CB Richard Ellis Group, Inc. Completes Acquisition of Trammell Crow Company" (Press release). Business Wire. December 20, 2006. 
  20. ^ Forbes, Laurie (March 5, 2010). "CBRE Names CFO; Turns Over Reins of Private Client Group". CoStar Group. 
  21. ^ Kreijger, Gilbert; Jonas, Ilaina (February 15, 2011). "CB Richard Ellis to buy ING real estate arm". Reuters. 
  22. ^ Crowe, Deborah (October 3, 2011). "CB Richard Ellis Group Changes Name". American City Business Journals. 
  23. ^ Drummer, Randyl (May 8, 2012). "CBRE President Robert Sulentic To Succeed Retiring CEO Brett White". CoStar Group. 
  24. ^ BULLARD, STAN (December 12, 2016). "CBRE Group Inc. acquires Skye Group of Cleveland". Crain Communications. 
  25. ^ "CBRE Group acquires Floored". Reuters. January 3, 2017. 
  26. ^ Jarboe, Michelle (April 18, 2017). "CBRE Group, Inc., acquires Twinsburg software provider Mainstream at undisclosed price". Cleveland Plain Dealer. 

External linksEdit