CBRE Group

CBRE Group, Inc.
Public
Traded as
Industry Real estate
Founded (August 27, 1906 (August 27, 1906))
Number of locations
 450 (2017)[1]:1
Area served
 Worldwide
Key people
  • Robert Sulentic, CEO[1]:129
  • Mike Lafitte, Global Group President
  • Cal Frese, Global Group President
  • Bill Concannon, Global Group President and CEO, Global Workplace Solutions[2]
  • James Groch, CFO[1]:129
  • Brandon Boze, Chairman
[1]:129
Products Commercial real estate services and investment
Revenue
  • Increase US$14.210 billion (2017)[1]:24
  • Increase US$13.072 billion (2016)
  • Increase US$1.071 billion (2017)[1]:24
  • Decrease US$0.815 billion (2016)
  • Increase US$0.691 billion (2017)[1]:24
  • Increase US$0.572 billion (2016)
Total assets
  • Increase US$11.484 billion (2017)[1]:25
  • Decrease US$10.780 billion (2016)
Total equity
  • Increase US$4.080 billion (2017)[1]:57
  • US$3.057 billion (2016)
Number of employees
 80,000 (2017)[1]:1
Website cbre.us

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

CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.[1]:1 The CBRE Global Investors subsidiary sponsors real estate investments via investment funds and direct investments that it manages. As of December 31, 2017, the division had US$103.2 billion in assets under management.[1]:4 The Trammell Crow Company subsidiary is the largest commercial real estate developer in the United States, according to Commercial Property Executive's annual ranking.[3]

The company is ranked #207 on the Fortune 500,[4] and has been included in the Fortune 500 in every year since 2008.[1]:1 The company serves more than 90 of the top 100 companies on the Fortune 100.[1]:1

In 2017, the company received 55.3% of its revenue from the Americas,[1]:2 29.3% of revenue from Europe, the Middle East and Africa, 12.2% of revenue from the Asia Pacific region.[1]:4

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.[5]

In 1989, Sears sold Coldwell Banker to a management-led buyout group that included The Carlyle Group for $305 million.[6] The company was renamed CB Commercial.

By 1991, the company was suffering financially due to debt taken on from the leveraged buyout.[7]

In 1995, the company acquired Westmark Realty Advisors for $37.5 million.[8]

In 1996, the company acquired L.J. Melody & Co. for $15 million.[9]

In 1996, the company became a public company via an initial public offering.[10]

In 1997, the company acquired Koll Real Estate Services for $145 million.[11][12]

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.[13]

In 1999, the company acquired LirAntunez Propiedades SA, based in Chile,[14] and merged its Japanese operations with Ikoma.[15]

In 2001, the company was taken private by an investment group led by Blum Capital in an $800 million transaction.[16]

In 2003, the company acquired Insignia Financial Group for $415 million in cash.[17][18]

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

In 2006, the company was added to the S&P 500 Index.[19]

In December 2006, the company acquired Trammell Crow Company for $2.2 billion.[20][21]

In 2010, Gil Borok was promoted to chief financial officer of the company.[22]

In 2011, the company acquired the real estate investment management business of ING Group for $940 million.[23]

In 2011, the company changed its name to CBRE Group Inc.[24]

In 2012, CEO Brett White left to Cushman & Wakefield and was replaced by the former president, Robert Sulentic.[25]

In 2013 the company acquired Norland Managed Services, a leading facilities, energy and project management providers in the UK & Ireland.[26]

In 2015 the company acquired Global Workplace Solutions from Johnson Controls.[27]

In 2016, the company acquired Skye Group.[28]

In 2017, the company acquired Floored,[29] Mainstream,[30] Caledon Capital Management,[31] Custom Spaces,[32] Heery International,[33] and Streetsense.[34]

In 2018, the company acquired FacilitySource[35] and changed its ticker symbol to "CBRE" from "CBG".[36]

References

  1. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 CBRE Group (March 1, 2018). Form 10–K: Annual Report, CBRE Group, Inc (Report) (2017 ed.). Retrieved July 3, 2018.
  2. ↑ Bubny, Paul (January 18, 2018). "CBRE Promotes Concannon To Global President, GWS". GlobeSt.com. ALM Real Estate Media Group. Retrieved July 3, 2018.
  3. ↑ "2017 Top 50 Development Firms". Commercial Property Executive. Retrieved July 3, 2018.
  4. ↑ "CBRE Group (CBRE) Stock Price, Financials and News". Fortune 500. Time, Inc. Retrieved July 3, 2018.
  5. ↑ Rowe Jr., James L. (October 6, 1981). "Sears to Acquire Coldwell, Banker Real Estate Firm". The Washington Post.
  6. ↑ "Coldwell Banker Commercial: Global Network".
  7. ↑ "Aerospace". Los Angeles Times. October 3, 1991.
  8. ↑ 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.
  9. ↑ Dawson, Jennifer (October 3, 2005). "L.J. Melody changes name to CBRE Melody". American City Business Journals.
  10. 1 2 Vincent, Roger (June 10, 2004). "CB Richard Ellis Stock Offering Brings in a Total of $454.9 Million". Los Angeles Times.
  11. ↑ GRANELLI, JAMES S.; FULMER, MELINDA (March 19, 1997). "CB Commercial to Buy Koll Real Estate Services in $145-Million Deal". Los Angeles Times.
  12. ↑ "CB Commercial to acquire California's Koll Real Estate". American City Business Journals. March 19, 1997.
  13. ↑ "CB RICHARD ELLIS ACQUIRES HILLIER PARKER FOR $69 MILLION". Reuters. The New York Times. July 9, 1998.
  14. ↑ Chema, Steve (February 10, 1999). "CB Continues Global Expansion". CoStar Group.
  15. ↑ "CB Richard Ellis, Ikoma to Merge in Japan". Bloomberg News. Los Angeles Times. January 27, 1999.
  16. ↑ FRANCISCO, BAMBI (February 25, 2001). "CB Richard Ellis is going private". Marketwatch.
  17. ↑ Vincent, Roger (February 19, 2003). "CB Richard Ellis to Buy Insignia". Los Angeles Times.
  18. ↑ Corfman, Thomas A. (February 19, 2003). "CB Richard Ellis acquires Insignia". Chicago Tribune.
  19. ↑ MANTELL, RUTH (November 6, 2006). "S&P announces index changes". Marketwatch.
  20. ↑ Haddad, Annette (November 1, 2006). "CB Richard Ellis to buy major rival". Los Angeles Times.
  21. ↑ "CB Richard Ellis Group, Inc. Completes Acquisition of Trammell Crow Company" (Press release). Business Wire. December 20, 2006.
  22. ↑ Forbes, Laurie (March 5, 2010). "CBRE Names CFO; Turns Over Reins of Private Client Group". CoStar Group.
  23. ↑ Kreijger, Gilbert; Jonas, Ilaina (February 15, 2011). "CB Richard Ellis to buy ING real estate arm". Reuters.
  24. ↑ Crowe, Deborah (October 3, 2011). "CB Richard Ellis Group Changes Name". American City Business Journals.
  25. ↑ Drummer, Randyl (May 8, 2012). "CBRE President Robert Sulentic To Succeed Retiring CEO Brett White". CoStar Group.
  26. ↑ https://news.cbre.co.uk/cbre-group-inc-closes-acquisition-of-norland-managed-services-ltd/
  27. ↑ https://www.cbre.com/about/media-center/cbre-closes-acquisition-of-global-workplace-solutions
  28. ↑ BULLARD, STAN (December 12, 2016). "CBRE Group Inc. acquires Skye Group of Cleveland". Crain Communications.
  29. ↑ "CBRE Group acquires Floored". Reuters. January 3, 2017.
  30. ↑ Jarboe, Michelle (April 18, 2017). "CBRE Group, Inc., acquires Twinsburg software provider Mainstream at undisclosed price". Cleveland Plain Dealer.
  31. ↑ "CBRE Acquires Canadian Investment Management Firm Caledon Capital". Los Angeles Business Journal.
  32. ↑ "CBRE acquires San Francisco-based tech brokerage Custom Spaces". Real Estate Weekly.
  33. ↑ "CBRE completes acquisition of Heery International". Building Design & Construction.
  34. ↑ "Streetsense enters joint venture with CBRE, sells brokerage". Washington Business Journal.
  35. ↑ "CBRE Purchases FacilitySource From Warburg Pincus For $290M". GlobeSt.com.
  36. ↑ "CBRE Group, Inc. Announces NYSE Ticker Symbol Change To "CBRE"". March 8, 2018.
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