CBRE Group, Inc. is an American

commercial real estate Commercial property, also called commercial real estate, investment property or income property, is real estate (buildings or land) intended to generate a profit, either from capital gains or rental income. Commercial property includes office bu ...

services and investment firm. The abbreviation CBRE stands for Coldwell Banker Richard Ellis. It is the world's largest commercial real estate services and investment firm (based on 2021 revenue). The firm is ranked 122nd on the

Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along ...

and has been included in the Fortune 500 every year since 2008. CBRE serves more than 90 of the top 100 companies on the Fortune 100."Annual Report 2018" pg7
/ref> It is one of the "Big Three" commercial real estate services companies, alongside

Cushman & Wakefield Cushman & Wakefield plc is a global commercial real estate services firm. The company's corporate headquarters is located in Chicago, Illinois. Cushman & Wakefield is among the world's largest commercial real estate services firms, with revenues ...

and JLL.

Services

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 and valuation 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.

History

Tucker, Lynch & Coldwell, the earliest predecessor to CBRE, was established on August 27, 1906, following the

1906 San Francisco earthquake At 05:12 Pacific Standard Time on Wednesday, April 18, 1906, the coast of Northern California was struck by a major earthquake with an estimated moment magnitude of 7.9 and a maximum Mercalli intensity of XI (''Extreme''). High-intensity sha ...

. 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 Coldwell Banker Real Estate LLC is an American real estate franchise owned by Anywhere Real Estate, with headquarters in Madison, New Jersey. It was founded in 1906 in San Francisco, and has approximately 3000 offices in 49 countries and territor ...

. In 1981, Coldwell Banker was acquired by

Sears Sears, Roebuck and Co. ( ), commonly known as Sears, is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began a ...

. In 1989, Sears sold Coldwell Banker's commercial unit to a management-led buyout group including

The Carlyle Group The Carlyle Group is a multinational private equity, alternative asset management and financial services corporation based in the United States with $376 billion of assets under management. It specializes in private equity, real assets, and pri ...

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 1996, the company became a

public company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (l ...

via an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

, raising approximately $80 million. In 1997, the company acquired Koll Real Estate Services for $145 million. 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 A leveraged buyout (LBO) is one company's acquisition of another company using a significant amount of borrowed money (leverage) to meet the cost of acquisition. The assets of the company being acquired are often used as collateral for the loan ...

by an investment group led by

Blum Capital Blum Capital Partners, L.P., also known as Blum Capital, is an American private equity firm headquartered in San Francisco, California. The firm is focused on leveraged buyout, growth capital and PIPE investments in small cap and middle-market c ...

in an $800 million transaction. In 2003, the company acquired

Insignia Financial Group Insignia Financial Group was a company that invested in apartments that were financially distressed, with the goal of increasing value via recapitalization. It was founded and controlled by billionaire Andrew L. Farkas and was headquartered i ...

for $415 million. On June 10, 2004, CB Richard Ellis once again became a public company via an initial public offering. In 2006, the company's shares were added to the

S&P 500 Index The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices. As of D ...

. In December 2006, the company acquired

Trammell Crow Company Trammell Crow Company is a real estate development, investment, and property management company. It has been a subsidiary of CBRE Group since 2006. History The company was founded by Trammell Crow Fred Trammell Crow (June 10, 1914 – January 1 ...

for $2.2 billion. In 2011, the company acquired the real estate investment business of

ING Group The ING Group ( nl, ING Groep) is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale bankin ...

for $940 million. In 2011, the company changed its name to CBRE Group Inc. In 2013 the company acquired Norland Managed Services, a facilities, energy and project management provider in the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...

and

Ireland Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic Ocean, in Northwestern Europe, north-western Europe. It is separated from Great Britain to its east by the North Channel (Grea ...

. In 2015 the company acquired Global Workplace Solutions from

Johnson Controls Johnson Controls International is an American Irish-domiciled multinational conglomerate headquartered in Cork, Ireland, that produces fire, HVAC, and security equipment for buildings. As of mid-2019, it employed 105,000 people in around 2,0 ...

. In 2018, the company acquired

FacilitySource FacilitySource, is a technology-based, facility management firm headquartered in Columbus, Ohio, US. The company provides facility management and management solutions to businesses in retail, banking, logistics, and healthcare industries based in ...

. In 2019, the group acquired the London developer

Telford Homes Telford Homes is a housebuilding company that specialises in developments in non-prime areas of London. In April 2018 it was reported that Telford Homes was expecting record profits and revenues for the financial year 2017/18 as a result of Lond ...

. In 2020, the group headquarters were relocated from Los Angeles to

Dallas, Texas Dallas () is the third largest city in Texas and the largest city in the Dallas–Fort Worth metroplex, the fourth-largest metropolitan area in the United States at 7.5 million people. It is the largest city in and seat of Dallas County w ...

. In July 2021, CBRE paid £960 million for a 60% stake in the UK multidisciplinary professional services firm

Turner & Townsend Turner & Townsend (officially Turner & Townsend Partners LLP) is a multinational professional services company headquartered in Leeds, United Kingdom specialising in programme management, project management, cost management and consulting across ...

References

External links

* {{DEFAULTSORT:CBRE 2004 initial public offerings Commercial real estate companies Companies based in Dallas American companies established in 1906 Real estate companies established in 1906 Companies listed on the New York Stock Exchange Property services companies of the United Kingdom Real estate services companies of the United States

Services

History

See also

References

External links