|Founded||August 27, 1906|
Number of locations
|Products||Commercial real estate services and investment|
|Revenue||US$21.340 billion (2018)|
|US$1.088 billion (2018)|
|US$1.063 billion (2018)|
|Total assets||US$13.457 billion (2018)|
|Total equity||US$5.010 billion (2018)|
Number of employees
|Over 100,000 (2019)|
|Footnotes / references|
CBRE Group, Inc. is an American commercial real estate services and investment firm. The abbreviation CBRE stands for Coldwell Banker Richard Ellis. It is the largest commercial real estate services company in the world.
CBRE provides services to both occupiers of and investors in real estate:
- For occupiers, CBRE provide facilities management, project management, transaction (both property sales and leasing) and consulting services, among others.
- For investors, CBRE provide capital markets (property sales, commercial mortgage brokerage, loan origination and servicing), property leasing, investment management, property management, valuation and development services, among others.
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.
In 1981, Coldwell Banker was acquired by Sears. In 1989, Sears sold Coldwell Banker's commercial unit to a management-led buyout group including The Carlyle Group for approximately $300 million. After the buyout, the company was renamed CB Commercial Real Estate Group. The residential group retained the Coldwell Banker name.
In 1998, CB Commercial merged with Richard Ellis International (REI) Limited and changed its name to CB Richard Ellis. In 2001, CB Richard Ellis was acquired in a Leveraged buyout by an investment group led by Blum Capital in an $800 million transaction.
In 2011, the company changed its name to CBRE Group Inc.
In 2019, the group acquired the London developer Telford Homes.
In 2020, the group headquaters were relocated to Dallas, TX.
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. However, it is unclear if the suit was followed through.
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- "The Largest Commercial Real Estate Brokerages in the U.S. | CarletonSheets.com". www.carletonsheets.com. Retrieved 2019-07-16.
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- "Annual Report 2018" pg7
- "About Coldwell Banker Real Estate | Ethel Curbow". www.ethelcurbow.com. Archived from the original on 2018-10-28. Retrieved 2019-07-09.
- "History of CB Richard Ellis Group, Inc. – FundingUniverse". www.fundinguniverse.com. Retrieved 2019-07-09.
- Rowe Jr., James L. (October 6, 1981). "Sears to Acquire Coldwell, Banker Real Estate Firm". The Washington Post.
- Press, Daily. "SEARS AGREES TO SELL COLDWELL COMPANY". dailypress.com. Retrieved 2019-07-09.
- "Sears OKs Deal to Sell Coldwell Commercial Unit". Los Angeles Times. 1989-03-28. ISSN 0458-3035. Retrieved 2019-07-09.
- Rudd, David C. "SEARS' COLDWELL BRINGS $300 MILLION". chicagotribune.com. Retrieved 2019-07-09.
- Feuerstein, Adam (September 29, 1996). "CB Commercial contemplates IPO". American City Business Journals.
- "FOR THE RECORD IPO PAY WILL BACK LASALLE GROWTH PLAY". Crain's Chicago Business. 1997-07-12. Retrieved 2019-07-09.
- GRANELLI, JAMES S.; FULMER, MELINDA (March 19, 1997). "CB Commercial to Buy Koll Real Estate Services in $145-Million Deal". Los Angeles Times.
- "CB Commercial to acquire California's Koll Real Estate". American City Business Journals. March 19, 1997.
- "CB RICHARD ELLIS ACQUIRES HILLIER PARKER FOR $69 MILLION". The New York Times. Reuters. July 9, 1998.
- "CB Richard Ellis Agrees to Group's $750-Million Buyout". Los Angeles Times. Bloomberg News. February 26, 2001.
- Vincent, Roger (February 19, 2003). "CB Richard Ellis to Buy Insignia". Los Angeles Times.
- Corfman, Thomas A. (February 19, 2003). "CB Richard Ellis acquires Insignia". Chicago Tribune.
- Vincent, Roger (June 10, 2004). "CB Richard Ellis Stock Offering Brings in a Total of $454.9 Million". Los Angeles Times.
- MANTELL, RUTH (November 6, 2006). "S&P announces index changes". MarketWatch.
- Haddad, Annette (November 1, 2006). "CB Richard Ellis to buy major rival". Los Angeles Times.
- "CB Richard Ellis Group, Inc. Completes Acquisition of Trammell Crow Company" (Press release). Business Wire. December 20, 2006.
- Kreijger, Gilbert; Jonas, Ilaina (February 15, 2011). "CB Richard Ellis to buy ING real estate arm". Reuters.
- Crowe, Deborah (October 3, 2011). "CB Richard Ellis Group Changes Name". American City Business Journals.
- "CBRE Group, Inc. Closes Acquisition of Norland Managed Services Ltd" (Press release). December 23, 2013.
- "CBRE Goup closes acquisition of Johnson Controls' Global Workplace Solutions business". The Economic Times. September 2, 2015. Retrieved April 27, 2019.
- "CBRE Purchases FacilitySource from Warburg Pincus for $290M". GlobeSt.com.
- "CBRE rigged bidding for a bank branch, fraud lawsuit alleges". Los Angeles Times. September 1, 2012. Retrieved August 2, 2019.
|Wikimedia Commons has media related to CBRE Group.|
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