|Traded as||NYSE: CBG
S&P 500 Component
|Key people||Bob Sulentic, President and CEO
James R. Groch, CFO
Ray Wirta, Chairman
|Products||Commercial real estate services|
|Revenue||US$ 7.2 billion (2013)|
|Operating income||US$ 616.1 million (2013)|
|Net income||US$ 348.8 million (2013)|
|Total assets||US$ 7.0 billion (2013)|
|Total equity||US$ 1.9 billion (2013)|
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.
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. 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.
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. In late 2006, CBRE merged with Trammell Crow Company in a transaction valued at $2.2 billion.
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.
The company changed its name to CBRE Group, Inc. on October 3, 2011.
- "Financial statements overview for CBRE Group". BusinessWeek. Retrieved February 27, 2014.
- "Fortune 500 list - CBRE". Fortune. 2013.
- "Restructuring (CB Commercial Real Estate Group Incl)". Los Angeles Times. October 3, 1991.
- "CB Richard Ellis to Replace BellSouth in S&P 500" Bloomberg
- "CB Richard Ellis to buy major rival" Los Angeles Times
- "CB Richard Ellis to buy ING real estate arm" Reuters
- "CB Richard Ellis Group Changes Name" Los Angeles Business Journal
- "CB Richard Ellis Group, Inc. Named a BusinessWeek 50 Best" Bloomberg
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