CBRE Group

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CBRE Group, Inc.
Type Public
Traded as NYSECBG
S&P 500 Component
Industry Real Estate
Founded 1906
Area served Worldwide
Key people Bob Sulentic, President and CEO
James R. Groch, CFO
Ray Wirta, Chairman[1]
Products Commercial real estate services
Revenue Increase US$ 7.2 billion (2013)[2]
Operating income Increase US$ 616.1 million (2013)[2]
Net income Increase US$ 348.8 million (2013)[2]
Total assets Decrease US$ 7.0 billion (2013)[2]
Total equity Increase US$ 1.9 billion (2013)[2]
Employees Approximately 44,000
Website http://www.cbre.com/

CBRE Group, Inc. is an American commercial real estate company with headquarters in Los Angeles, California. The company has approximately 44,000 employees and 300 offices worldwide. CBRE was ranked at 387 in the Fortune 500 in 2013 and was the highest-ranked company in the real estate sector.[3]

History[edit]

CBRE's current corporate headquarters at the Westwood Gateway office complex, 11150 Santa Monica Boulevard, Los Angeles, California

Following the 1906 San Francisco earthquake, Tucker, Lynch & Coldwell was established on August 27, 1906, and renamed Coldwell, Banker & Company in 1940. In 1989, in a leveraged buyout, CB Commercial was spun off as a privately held company, CB Commercial Real Estate Group Inc., from Coldwell Banker which, after financial difficulties, was later acquired by Realogy.[4] Following CB Commercial’s 1998 acquisition of Richard Ellis International Limited, which traced its roots to London in 1773, the company changed its name to CB Richard Ellis.[citation needed]

In June 2004, CBRE began trading on the New York Stock Exchange. In 2005, CBRE was first recognized as a Fortune 1000 company, and in 2006 it was added to the S&P 500.[5] In late 2006, CBRE merged with Trammell Crow Company in a transaction valued at $2.2 billion.[6]

In February 2011, CBRE agreed to buy ING group’s real estate investment management business in Europe and Asia and its listed securities business, creating an enterprise with more than $90 billion of assets under management.[7]

The company changed its name to CBRE Group, Inc. on October 3, 2011.[8]

Recognition[edit]

In 2009, CBRE was ranked 25th in the BusinessWeek list of 50 "best in class" companies across all industries, for the third year in a row.[9]

References[edit]