Revenue : $5B to $10B (USD)
CBRE (formerly CB Richard Ellis Group) is all about location, location, location -- not to mention ubicaciÃ³n, l'emplacement, posizione, and Standort.Â One of the world's largest commercial real estate services companies, CBRE operates more than 300 offices inÂ 60 countries.Â Services include property and facilities management, leasing, brokerage, valuation, asset management, financing, and market research. The company manages about 1.3 billion sq. ft. of commercial space for third-party owners and occupants. Subsidiary Trammell CrowÂ provides property development servicesÂ for corporate and institutional clients, primarily in the US.Â CBRE Global InvestorsÂ manages real estate investments for institutional clients.
CBRE operates inÂ five segments:Â the Americas; Europe, the Middle East, and Africa (EMEA); the Asia/Pacific region; global investment management (handled by CBRE GlobalÂ Investors); and development services (handled by Trammell Crow). The Americas division, which includes the US, Canada, and Latin America,Â is its largest,Â accounting forÂ more thanÂ 60% of allÂ sales.
CBRE continues to expand its geographic reach and broaden its service offerings by makingÂ fill-in acquisitions in regional marketsÂ that complement or expand existing operations. The company's strategy is to be the leading firm in each of its major business lines.
After several years of limiting its investments due to the recession, CBRE in 2013 acquired commercial real estate services business Resource Estate Partners and TPA Realty Services, both based in Atlanta, where it's working to boost its market share. CBRE in 2011 made one of its largest deals in several years. The company bolstered its global real estate investment management business with the acquisition ofÂ ING Groep's real estate investment management operations for some $940 million. The Dutch firm's real estate investment management business in Asia and EuropeÂ was merged into CBRE GlobalÂ Investors and more than doubled the size of the unit. The transaction also included US-based Clarion Real Estate Securities and interests in commercial real estate co-investments.
The ING deal helped boost CBRE's investment management revenue by more than 30% in 2011. Most of theÂ company's other business linesÂ also saw double-digit positive revenue growth. That, coupled with expense management, helped CBRE's overall revenues to increase by 15% in 2011. Trends that began in 2010 continued the following year. Commercial real estate markets stabilized. Vacancy rates decreased, rents stabilized or edged up, credit became more widely available, and property sales and leasing activity increased. As conditions improve the companyÂ expects acquisitions to once againÂ drive growth.
Private equity firmÂ Blum Capital PartnersÂ owns about 7% of CBRE. Blum is headed by Richard Blum, who is also the chairman of CBRE. – less
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