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'''CBRE Group, Inc.''', is an American [[commercial real estate]] services and [[investment]] firm. It is the largest commercial real estate services company in the world.<ref>{{Cite web|url=https://rew-online.com/2018/09/worlds-biggest-real-estate-firm-gets-bigger/|title=World's biggest real estate firm gets bigger|date=2018-09-12|website=Real Estate Weekly|language=en-US|access-date=2019-07-16}}</ref><ref>{{Cite web|url=https://www.innovationhubusa.com/cbre/|title=CBRE - The World’s Largest Commercial Real Estate Services Firm|date=2018-11-11|website=Innovation Hub USA|language=en-US|access-date=2019-07-16}}</ref><ref>{{Cite web|url=https://www.carletonsheets.com/resources/articles/commercial-properties/evaluating-properties/the-largest-commercial-real-estate-brokerages-in-the-u.s.html|title=The Largest Commercial Real Estate Brokerages in the U.S. {{!}} CarletonSheets.com|website=www.carletonsheets.com|access-date=2019-07-16}}</ref>
'''CBRE Group, Inc.''', is an American [[commercial real estate]] services and [[investment]] firm. The abbreviation CBRE stands for Coldwell Banker Richard Ellis. As of 2018, it is the largest commercial real estate services company in the world.<ref>{{Cite web|url=https://rew-online.com/2018/09/worlds-biggest-real-estate-firm-gets-bigger/|title=World's biggest real estate firm gets bigger|date=2018-09-12|website=Real Estate Weekly|language=en-US|access-date=2019-07-16}}</ref><ref>{{Cite web|url=https://www.innovationhubusa.com/cbre/|title=CBRE - The World’s Largest Commercial Real Estate Services Firm|date=2018-11-11|website=Innovation Hub USA|language=en-US|access-date=2019-07-16}}</ref><ref>{{Cite web|url=https://www.carletonsheets.com/resources/articles/commercial-properties/evaluating-properties/the-largest-commercial-real-estate-brokerages-in-the-u.s.html|title=The Largest Commercial Real Estate Brokerages in the U.S. {{!}} CarletonSheets.com|website=www.carletonsheets.com|access-date=2019-07-16}}</ref>


CBRE offers facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.<ref name="10K">{{Cite report|url=http://services.corporate-ir.net/SEC.Enhanced/SecCapsule.aspx?c=176560&fid=15490574|title=Form 10&ndash;K: Annual Report, CBRE Group, Inc.|last=CBRE Group|first=|date=March 1, 2018|publisher=|issue=|doi=|edition=2017|volume=|pmid=|access-date=July 3, 2018}}</ref> It is based in [[Los Angeles, California]], operates more than 480 offices worldwide, and serves clients in more than 100 countries.<ref name="10K" />
CBRE offers facilities management; transactions management; project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.<ref name="10K">{{Cite report|url=http://services.corporate-ir.net/SEC.Enhanced/SecCapsule.aspx?c=176560&fid=15490574|title=Form 10&ndash;K: Annual Report, CBRE Group, Inc.|last=CBRE Group|first=|date=March 1, 2018|publisher=|issue=|doi=|edition=2017|volume=|pmid=|access-date=July 3, 2018}}</ref> It is based in [[Los Angeles, California]], operates more than 480 offices worldwide, and serves clients in more than 100 countries.<ref name="10K" />


The CBRE Global Investors subsidiary sponsors real estate investments via [[investment fund]]s and direct investments that it manages. As of December 31, 2018, the division had {{US$|105.5 billion}} in [[assets under management]].<ref>{{Cite web|url=https://s22.q4cdn.com/564468338/files/doc_financials/annual/2018/CBRE-2018-Annual-Report.pdf|title=Annual Report 2018 {{!}} CBRE Group, Inc.|last=|first=|date=March 1, 2019|website=www.godaddy.com|archive-url=|archive-date=|dead-url=|access-date=July 16, 2019}}</ref>
The CBRE Global Investors subsidiary sponsors real estate investments via [[investment fund]]s and direct investments that it manages. As of December 31, 2018, the division had {{US$|105.5 billion}} in [[assets under management]].<ref>{{Cite web|url=https://s22.q4cdn.com/564468338/files/doc_financials/annual/2018/CBRE-2018-Annual-Report.pdf|title=Annual Report 2018 {{!}} CBRE Group, Inc.|last=|first=|date=March 1, 2019|website=www.godaddy.com|archive-url=|archive-date=|dead-url=|access-date=July 16, 2019}}</ref>
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In 2018, the company acquired [[FacilitySource]]<ref>{{cite web | url=http://www.globest.com/2018/06/25/cbre-purchases-facilitysource-from-warburg-pincus-for-290m/?channel=markets&section=national | title=CBRE Purchases FacilitySource From Warburg Pincus For $290M | work=[[GlobeSt.com]]}}</ref>
In 2018, the company acquired [[FacilitySource]]<ref>{{cite web | url=http://www.globest.com/2018/06/25/cbre-purchases-facilitysource-from-warburg-pincus-for-290m/?channel=markets&section=national | title=CBRE Purchases FacilitySource From Warburg Pincus For $290M | work=[[GlobeSt.com]]}}</ref>

==Services, Asset Types and Industry Sectors==
CBRE services clients across different property types and industry sectors across the world. It can be categorized into two main service lines: Services for Investors and Services for Occupiers. <ref name=CBREServices>{{cite web | url=https://www.cbre.com/real-estate-services | title=CBRE Services | accessdate=August 2, 2019}}</ref>
===Services for Investors===
CBRE Services for Investors provides a range of solutions that help reduce risk and optimize returns for real estate clients.

===Services for Occupiers===
CBRE Services for Occupier provide tenant representation services, from site selection and transaction negotiation to facilities management.

==Controversies==
===Rigged Bidding===
According to a lawsuit back in 2012, CBRE violated Federal Deposit Insurance Corp (FDIC) rules by letting Florida’s Stonegate Bank pay less for a branch than a consultant named Kenneth H. Thomas had bid for it.<ref name=RiggedBidding>{{cite web | url=https://www.latimes.com/business/la-xpm-2012-sep-01-la-fi-cbre-suit-20120901-story.html | title=CBRE rigged bidding for a bank branch, fraud lawsuit alleges | work=[[LATimes.com]] | date=September 1, 2012 | accessdate=August 2, 2019}}</ref> However, it is unclear if the suit was followed through.
==See also==
* [[JLL (company)]]
* [[Cushman & Wakefield]]
* [[Colliers International]]


==References==
==References==

Revision as of 04:02, 5 August 2019

CBRE Group, Inc.
Company typePublic
IndustryReal estate
Founded(August 27, 1906; 118 years ago (August 27, 1906))
Headquarters
Los Angeles, California
,
U.S.
Number of locations
480 (2018)[1]
Area served
Worldwide
Key people
  • Robert Sulentic, CEO[2]: 129 
  • Jack Durburg, Global Chief Operating Officer[3]
  • James Groch, CFO[2]: 129 
  • Brandon Boze, Chairman
[2]: 129 
ProductsCommercial real estate services and investment
RevenueIncrease US$21.340 billion (2018)[4]
Increase US$1.088 billion (2018)[4]
Increase US$1.063 billion (2018)[4]
Total assetsIncrease US$13.457 billion (2018)[4]
Total equityIncrease US$5.010 billion (2018)[4]
Number of employees
>90,000 (2018)[1]

CBRE Group, Inc., is an American commercial real estate services and investment firm. The abbreviation CBRE stands for Coldwell Banker Richard Ellis. As of 2018, it is the largest commercial real estate services company in the world.[5][6][7]

CBRE offers facilities management; transactions management; project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.[2] It is based in Los Angeles, California, operates more than 480 offices worldwide, and serves clients in more than 100 countries.[2]

The CBRE Global Investors subsidiary sponsors real estate investments via investment funds and direct investments that it manages. As of December 31, 2018, the division had US$105.5 billion in assets under management.[8]

CBRE's Trammell Crow Company subsidiary was the largest commercial real estate developer in the United States in 2018, according to Commercial Property Executive's annual ranking.[9]

History

Tucker, Lynch & Coldwell, the earliest predecessor to CBRE, was established on August 27, 1906, following the 1906 San Francisco earthquake. The company added Benjamin Arthur Banker as partner in 1913 and renamed itself Coldwell, Cornwall & Banker in 1920. Cornwall resigned as partner in 1940, and the company was renamed Coldwell, Banker & Co, which was eventually shortened to Coldwell Banker.[10][11]

In 1981, Coldwell Banker was acquired by Sears.[12] In 1989, Sears sold Coldwell Banker's commercial unit to a management-led buyout group including The Carlyle Group for approximately $300 million.[13][14][15] After the buyout, the company was renamed CB Commercial Real Estate Group.[16]

In 1996, the company became a public company via an initial public offering, raising approximately $80 million.[16][17]

In 1997, the company acquired Koll Real Estate Services for $145 million.[18][19]

In 1998, CB Commercial merged with Richard Ellis International (REI) Limited and changed its name to CB Richard Ellis.[20] In 2001, CB Richard Ellis was taken private by an investment group led by Blum Capital in an $800 million transaction.[21]

In 2003, the company acquired Insignia Financial Group for $415 million.[22][23]

On June 10, 2004, CB Richard Ellis once again became a public company via an initial public offering.[24] In 2006, the company's shares were added to the S&P 500 Index.[25]

In December 2006, the company acquired Trammell Crow Company for $2.2 billion.[26][27]

In 2011, the company acquired the real estate investment business of ING Group for $940 million.[28]

In 2011, the company changed its name to CBRE Group Inc.[29]

In 2013 the company acquired Norland Managed Services, a facilities, energy and project management provider in the United Kingdom and Ireland.[30]

In 2015 the company acquired Global Workplace Solutions from Johnson Controls.[31]

In 2018, the company acquired FacilitySource[32]

Services, Asset Types and Industry Sectors

CBRE services clients across different property types and industry sectors across the world. It can be categorized into two main service lines: Services for Investors and Services for Occupiers. [33]

Services for Investors

CBRE Services for Investors provides a range of solutions that help reduce risk and optimize returns for real estate clients.

Services for Occupiers

CBRE Services for Occupier provide tenant representation services, from site selection and transaction negotiation to facilities management.

Controversies

Rigged Bidding

According to a lawsuit back in 2012, CBRE violated Federal Deposit Insurance Corp (FDIC) rules by letting Florida’s Stonegate Bank pay less for a branch than a consultant named Kenneth H. Thomas had bid for it.[34] However, it is unclear if the suit was followed through.

See also

References

  1. ^ a b "Annual Report 2018" pg28
  2. ^ a b c d e CBRE Group (March 1, 2018). Form 10–K: Annual Report, CBRE Group, Inc (Report) (2017 ed.). Retrieved July 3, 2018.
  3. ^ "CBRE Announces Future Organization Structure and Executive Promotions". August 17, 2018.
  4. ^ a b c d e "Annual Report 2018" pg57-58
  5. ^ "World's biggest real estate firm gets bigger". Real Estate Weekly. 2018-09-12. Retrieved 2019-07-16.
  6. ^ "CBRE - The World's Largest Commercial Real Estate Services Firm". Innovation Hub USA. 2018-11-11. Retrieved 2019-07-16.
  7. ^ "The Largest Commercial Real Estate Brokerages in the U.S. | CarletonSheets.com". www.carletonsheets.com. Retrieved 2019-07-16.
  8. ^ "Annual Report 2018 | CBRE Group, Inc" (PDF). www.godaddy.com. March 1, 2019. Retrieved July 16, 2019. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  9. ^ "2018 Top 50 Development Firms". Commercial Property Executive. Retrieved January 9, 2018. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  10. ^ "About Coldwell Banker Real Estate | Ethel Curbow". www.ethelcurbow.com. Retrieved 2019-07-09.
  11. ^ "History of CB Richard Ellis Group, Inc. – FundingUniverse". www.fundinguniverse.com. Retrieved 2019-07-09.
  12. ^ Rowe Jr., James L. (October 6, 1981). "Sears to Acquire Coldwell, Banker Real Estate Firm". The Washington Post.
  13. ^ Press, Daily. "SEARS AGREES TO SELL COLDWELL COMPANY". dailypress.com. Retrieved 2019-07-09.
  14. ^ "Sears OKs Deal to Sell Coldwell Commercial Unit". Los Angeles Times. 1989-03-28. ISSN 0458-3035. Retrieved 2019-07-09.
  15. ^ Rudd, David C. "SEARS` COLDWELL BRINGS $300 MILLION". chicagotribune.com. Retrieved 2019-07-09.
  16. ^ a b Feuerstein, Adam (1996-09-29). "CB Commercial contemplates IPO". www.bizjournals.com. Retrieved 2019-07-09. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  17. ^ "FOR THE RECORD IPO PAY WILL BACK LASALLE GROWTH PLAY". Crain's Chicago Business. 1997-07-12. Retrieved 2019-07-09.
  18. ^ GRANELLI, JAMES S.; FULMER, MELINDA (March 19, 1997). "CB Commercial to Buy Koll Real Estate Services in $145-Million Deal". Los Angeles Times.
  19. ^ "CB Commercial to acquire California's Koll Real Estate". American City Business Journals. March 19, 1997.
  20. ^ "CB RICHARD ELLIS ACQUIRES HILLIER PARKER FOR $69 MILLION". The New York Times. Reuters. July 9, 1998.
  21. ^ FRANCISCO, BAMBI (February 25, 2001). "CB Richard Ellis is going private". Marketwatch.
  22. ^ Vincent, Roger (February 19, 2003). "CB Richard Ellis to Buy Insignia". Los Angeles Times.
  23. ^ Corfman, Thomas A. (February 19, 2003). "CB Richard Ellis acquires Insignia". Chicago Tribune.
  24. ^ Vincent, Roger (June 10, 2004). "CB Richard Ellis Stock Offering Brings in a Total of $454.9 Million". Los Angeles Times.
  25. ^ MANTELL, RUTH (November 6, 2006). "S&P announces index changes". Marketwatch.
  26. ^ Haddad, Annette (November 1, 2006). "CB Richard Ellis to buy major rival". Los Angeles Times.
  27. ^ "CB Richard Ellis Group, Inc. Completes Acquisition of Trammell Crow Company" (Press release). Business Wire. December 20, 2006.
  28. ^ Kreijger, Gilbert; Jonas, Ilaina (February 15, 2011). "CB Richard Ellis to buy ING real estate arm". Reuters.
  29. ^ Crowe, Deborah (October 3, 2011). "CB Richard Ellis Group Changes Name". American City Business Journals.
  30. ^ "CBRE Group, Inc. Closes Acquisition of Norland Managed Services Ltd". MarketWatch. December 23, 2013. Retrieved April 27, 2019.
  31. ^ "CBRE Goup closes acquisition of Johnson Controls' Global Workplace Solutions business". The Economic Times. September 2, 2015. Retrieved April 27, 2019.
  32. ^ "CBRE Purchases FacilitySource From Warburg Pincus For $290M". GlobeSt.com.
  33. ^ "CBRE Services". Retrieved August 2, 2019.
  34. ^ "CBRE rigged bidding for a bank branch, fraud lawsuit alleges". LATimes.com. September 1, 2012. Retrieved August 2, 2019.
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