CBRE Group
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| Type | Public |
|---|---|
| Traded as | NYSE: CBG S&P 500 Component |
| Industry | Real Estate |
| Founded | 1906 |
| Headquarters | Los Angeles, California, USA |
| Area served | Worldwide |
| Key people | Brett White, Chief Executive Office & Director Gil Borok, Chief Financial Officer Bob Sulentic, President Larry Midler, Executive Vice President and General Counsel |
| Products | Asset Services, Brokerage, Capital Markets, CBRE Consulting, CBRE Hotels, Debt & Equity Financing, Development & Investment (Trammell Crow Company), Econometric Advisors, Facilities Management, Federal Lessor Advisory, Global Corporate Services, Healthcare, Industrial Services, Investment Banking, Investment Brokerage/Agency, Investment Management (CBRE Investors), Loan Sales, Office Services, Project Management, Public Institutions & Education, Recovery & Restructuring Services, Retail Services, Specialty Services, Transaction Management and Valuation & Advisory Services |
| Revenue |  US$ 5.9 billion (2011)[1] |
| Operating income | US$ 463 million (2011)[1] |
| Net income | US$ 239 million (2011)[1] |
| Total assets | US$ 7.2 billion (2011)[1] |
| Total equity | US$ 1.2 billion (2011)[1] |
| Employees | Approximately 34,000 |
| Website | http://www.cbre.com/ |
CBRE Group, Inc. (NYSE: CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.
The company changed its corporate name from CB Richard Ellis Group, Inc. to CBRE Group, Inc. on October 3, 2011.[2]
CBRE received a wide range of accolades and reached numerous milestones in 2011, including being named to the Fortune 500 (#440)[3] and as well as the highest-ranked commercial real estate services company in the magazine’s Most Admired Companies list[4]; the Financial Times’ Best Property Investment Advisor; National Real Estate Investor’s Top brokerage and Property Management Firm in the World[5]; The Lipsey Company’s #1 brand for 10 consecutive years; Newsweek’s greenest real estate firm in the magazine's 2011 green rankings (CBRE has also been the highest ranked real estate company in each of the three years that Newsweek has published its rankings)[6]; the United States Environmental Protection Agency (EPA) 2011 Energy Star Partner of the Year Sustained Excellence Award[7]; one of InfoWeek’s top 500 innovative users of business technology, ranked #42; and the only real estate company among NetProspex’s top 100 users of social media.
In December 2011, a survey of U.S. subscribers to The Wall Street Journal found that CBRE has the best brand reputation in the commercial real estate industry.[8]
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[edit] History
The firm that is now CBRE traces its roots back to California in the early 20th century. Following the 1906 San Francisco earthquake, Tucker, Lynch & Coldwell was established on August 27, 1906, and renamed Coldwell, Banker & Company in 1940. That firm became one of the largest commercial real estate services companies in the western United States. In 1989, employees and others acquired the company's operations to form CB Commercial. The company subsequently acquired Westmark Realty Advisors—now CBRE Investors—in 1995; L.J. Melody & Company—now CBRE Capital Markets—in 1996; Koll Real Estate Services in1997. 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, and today is known as CBRE.
In July 2003, CBRE and Insignia Financial Group were brought together. In June 2004, CBRE completed a successful initial public offering and began trading its Class A Common Stock 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.[9]
In 2009, CBRE was ranked in the BusinessWeek list of 50 "best in class" companies across all industries—the third year in a row that it was included in this list of elite companies[10]. In 2010, CBRE was voted best property investment advisor by the Financial Times, and was named the top real estate outsourcing company by Frost & Sullivan and The Black Book of Outsourcing. CBRE also ranked number 30 in Newsweek’s list of the “greenest big companies” and was the highest-ranked real estate company.
CBRE is the first—and only—commercial real estate services company included in the prestigious Fortune 500, ranking at 440 in 2011. In 2011, CBRE was also voted the most admired real estate services company in Fortune’s most admired companies survey. It also became the highest-ever ranked real estate services company in the prestigious IAOP ranking of outsourcing companies across all industries.
In February 2011, CBRE entered into a definitive agreement to acquire ING’s real estate investment management business in Europe and Asia and its listed securities business, creating an enterprise with more than $90 billion of investment assets under management[11].
[edit] Services
CBRE’s comprehensive, fully integrated global platform features the following services: Asset Services, Brokerage, Capital Markets, CBRE Consulting, CBRE Hotels, Debt & Equity Financing, Development & Investment (Trammell Crow Company), Econometric Advisors, Facilities Management, Federal Lessor Advisory, Global Corporate Services, Healthcare, Industrial Services, Investment Banking, Investment Brokerage/Agency, Investment Management (CBRE Investors), Loan Sales, Office Services, Project Management, Public Institutions & Education, Recovery & Restructuring Services, Retail Services, Specialty Services, Transaction Management and Valuation & Advisory Services, and many more.
[edit] Corporate responsibility
CBRE believes that with great leadership comes great responsibility: responsibility to lead with integrity; responsibility to respect its people, partners and planet; responsibility to support the communities in which it lives and works; and responsibility to share with others the good fortune in each of its employees’ lives. This vision is further echoed in the company’s corporate values—Respect, Integrity, Service and Excellence (RISE). The six pillars of CBRE’s corporate responsibility[12] program include Environmental Stewardship, Ethics and Compliance, Governance, Health and Safety, Philanthropy and Workplace.
In 2011, CBRE was named to Companies That Care’s Honor Roll for the fourth year in a row, in recognition of its commitment to community service and the strong values exhibited in its daily business practices.
[edit] See also
- Cassidy Turley
- Holliday Fenoglio Fowler
- Cushman & Wakefield (C&W)
- Studley, Inc.
- Savills
- Jones Lang LaSalle (JLL)
- Marcus & Millichap
- Brookfield Properties
- Colliers International
- Knight Frank
- CresaPartners
[edit] References
- ^ a b c d e CBRE Group, Inc. (7 February 2012). "CBRE Group, Inc. Reports Full-Year and Fourth-Quarter 2011 Results". cbre.com. CBRE. http://www.cbre.com/EN/AboutUs/MediaCentre/2011/Pages/020712.aspx. Retrieved 7 February 2012.
- ^ "CB Richard Ellis Group, Inc. Changes Name to CBRE Group, Inc." Company Press Release
- ^ "#440. CBRE Group, Inc."
- ^ "World's Most Admired Companies, CBRE Group, Inc."
- ^ "NATIONAL REAL ESTATE INVESTOR RANKS CB RICHARD ELLIS GROUP, INC. NO. 1 BROKERAGE FIRM FOR EIGHTH YEAR IN A ROW" Company Press Release
- ^ "Newsweek ranks CBRE Group, Inc. Greenest Real Estate Firm for 2011" Company Press Release
- ^ "EPA Recognizes CB Richard Ellis Group, Inc. With 2011 ENERGY STAR® Sustained Excellence Award" Company Press Release
- ^ "Survey of Wall Street Journal Subscribers Finds CBRE Has Real Estate Industry’s Best Brand Reputation" Company Press Release
- ^ "CB RICHARD ELLIS GROUP, INC. COMPLETES ACQUISITION OF TRAMMELL CROW COMPANY" Company Press Release
- ^ "CB RICHARD ELLIS GROUP, INC. NAMED A BUSINESSWEEK 50 BEST PERFORMER FOR THE THIRD YEAR IN A ROW" Company Press Release
- ^ "CBRE Group, Inc. Completes Acquisition of ING’s Real Estate Investment Management Operations in Asia" Company Press Release
- ^ CBRE.us Corporate Responsibility Page
