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CBRE Group, Inc. is the largest commercial real estate services and investment firm in the world. It is based in Los Angeles, California and operates more than 450 offices worldwide and has clients in more than 100 countries.
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. 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.
The company is ranked #214 on the Fortune 500 and has been included in the Fortune 500 in every year since 2008. The company receives business from 90 of the top 100 companies on the Fortune 100.
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.
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History
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.
In 1989, Sears sold Coldwell Banker to a management-led buyout group that included The Carlyle Group for $305 million. The company was renamed CB Commercial.
By 1991, the company was suffering financially due to debt taken on from the leveraged buyout.
In 1995, the company acquired Westmark Realty Advisors for $37.5 million.
In 1996, the company acquired L.J. Melody & Co. for $15 million.
In 1996, the company became a public company via an initial public offering.
In 1997, the company acquired Koll Real Estate Services for $145 million.
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.
In 1999, the company acquired LirAntunez Propiedades SA, based in Chile, and merged its Japanese operations with Ikoma.
In 2001, the company was taken private by an investment group led by Blum Capital in an $800 million transaction.
In 2003, the company acquired Insignia Financial Group for $415 million in cash.
On June 10, 2004, the company once again became a public company via an initial public offering.
In 2006, the company was added to the S&P 500 Index.
In December 2006, the company acquired Trammell Crow Company for $2.2 billion.
In 2010, Gil Borok was promoted to chief financial officer of the company.
In 2011, the company acquired the real estate investment management business of ING Group for $940 million.
In 2011, the company changed its name to CBRE Group Inc.
In 2012, CEO Brett White retired and was replaced by the former president, Robert Sulentic.
In 2016, the company acquired Skye Group.
In 2017, the company acquired Floored and Mainstream.
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References
External links
Source of article : Wikipedia
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