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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 world's largest commercial real estate services and investment firm (based on 2022 revenue).[2][3][4]
The firm is ranked 135th on the Fortune 500 and has been included in the Fortune 500 every year since 2008.[5] CBRE serves more than 95+ of the top 100 companies on the Fortune 100.[6] It is one of the "Big 4" commercial real estate services companies, alongside Cushman & Wakefield, Colliers, and JLL. [7]
Servicesedit
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.[6]
Historyedit
In 1906, Tucker, Lynch & Coldwell, the earliest predecessor to CBRE, was established.
In 1913, the company added Benjamin Arthur Banker as a partner, and it changed its name in 1918 to Coldwell, Kern & Banker. In 1919, the name became Coldwell, Kern, Cornwall & Banker, and in 1920, Coldwell, Cornwall & Banker. Cornwall retired in 1940, and the company name changed again to Coldwell, Banker & Company, which was shortened to Coldwell Banker in 1974.[8][9]
In 1981, Coldwell Banker was acquired by Sears.[10]
In 1989, Sears sold Coldwell Banker's commercial unit to a management-led buyout group including The Carlyle Group for approximately $300 million.[11][12][13] After the buyout, the company was renamed CB Commercial Real Estate Group.[14] The residential group retained the Coldwell Banker name.[13]
^"World's biggest real estate firm gets bigger". Real Estate Weekly. 2018-09-12. Archived from the original on 2019-07-16. Retrieved 2019-07-16.
^"CBRE - The World's Largest Commercial Real Estate Services Firm". Innovation Hub USA. 2018-11-11. Archived from the original on 2019-07-16. Retrieved 2019-07-16.
^"The Largest Commercial Real Estate Brokerages in the U.S. | CarletonSheets.com". www.carletonsheets.com. Archived from the original on 2023-02-13. Retrieved 2019-07-16.
^"CBRE Group, Inc. Closes Acquisition of Norland Managed Services Ltd" (Press release). December 23, 2013.
^"CBRE Goup [sic] 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 relocating headquarters to Dallas from Los Angeles, sources say". wfaa.com. 28 October 2020. Retrieved 2021-02-11.
^Price, David (27 July 2021). "Turner & Townsend sells major stake to US firm in £960m deal". Construction News. Retrieved 27 July 2021.
External linksedit
Wikimedia Commons has media related to CBRE Group.