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|
 | |
 Global financial headquarters at Lever House in Midtown Manhattan | |
| Company type | Public |
|---|---|
| Industry | Real estate |
| Founded | August 27, 1906 (as Tucker, Lynch & Coldwell) |
| Headquarters |
U.S. |
Number of locations | 500+ (2022) |
Area served | Worldwide |
Key people | Bob Sulentic (chairman and CEO) |
| Services | Commercial real estate services and investment |
| Revenue |  US$35.8 billion (2024) |
| US$1.41 billion (2024) | |
 US$968 million (2024) | |
| Total assets | US$24.4 billion (2024) |
| Total equity | US$8.41 billion (2024) |
Number of employees | 140,000 (2024) |
| Website | cbre |
| Footnotes / references [2] | |
CBRE Group, Inc. (an initialism of Coldwell Banker Richard Ellis) is an American commercial real estate services and investment firm, with corporate headquarters in Dallas, Texas, and global financial headquarters at Lever House in Midtown Manhattan.[1][3] It is the world's largest commercial real estate services and investment firm based on 2022 revenue.[4][5][6]
The firm is ranked 135th on the Fortune 500 and has been included in the Fortune 500 every year since 2008.[7] CBRE serves more than 95 of the companies on the Fortune 100.[8] It is one of the "Big 4" commercial real estate services companies, alongside Cushman & Wakefield, Colliers and JLL.[9]
Services
CBRE provides services to both occupiers of and investors in real estate. For occupiers, CBRE provides facilities management, project management, transaction (both property sales and leasing) and consulting services, financial 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, sustainability, valuation and development services, among others.[8]
History
- In 1906, Tucker, Lynch & Coldwell, the earliest predecessor to CBRE, was established.
- In 1913, the company added Benjamin Arthur Banker as a partner and changed the combined entity's 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.[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] The residential group retained the Coldwell Banker name.[15]
- 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 and changed its name to CB Richard Ellis (CBRE).[20] It also purchased UK firm Hillier Parker which was rebranded CB Hillier Parker.[21]
- In 2001, CBRE was acquired in a leveraged buyout by an investment group led by Blum Capital for $800 million.[22]
- In 2003, the company acquired Insignia Financial Group for $415 million.[23][24]
- In 2004, CBRE once again became a public company via an initial public offering.[25]
- In 2006, the company's shares were added to the S&P 500 Index.[26]
- In 2006, the company acquired Trammell Crow Company for $2.2 billion.[27][28]
- In 2011, the company acquired the real estate investment business of ING Group for $940 million.[29]
- In 2011, the company changed its name to CBRE Group Inc.[30]
- In 2013, the company acquired Norland Managed Services, a facilities, energy and project management provider in the United Kingdom and Ireland.[31]
- In 2015, the company acquired Global Workplace Solutions from Johnson Controls.[32]
- In 2018, the company acquired FacilitySource.[33]
- In 2019, the company acquired the London developer Telford Homes.
- In 2020, CBRE moved its headquarters from Los Angeles to Trammell Crow's former headquarters building in Dallas, Texas.[34]
- In 2021, CBRE Group Inc paid £960 million for a 60% stake in the UK multidisciplinary professional services firm Turner & Townsend.[35] In June 2024, CBRE announced plans to merge its project management businesses into Turner & Townsend, creating a $3bn business employing over 20,000 staff in 60 countries.[36] CBRE will also increase its T&T ownership stake to 70%.[36]
- In January 2025, CBRE established a new global financial headquarters at Lever House in Midtown Manhattan.[1]
References
- ^ a b c "CBRE Group Establishes Global Financial Headquarters at Lever House in Midtown Manhattan". CBRE. January 3, 2025. Retrieved April 27, 2025.
- ^ "2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 14, 2025.
- ^ "CBRE lancia anche in Italia i servizi di progettazione di interni – By Internews" (in Italian). Retrieved April 5, 2024.
- ^ "World's biggest real estate firm gets bigger". Real Estate Weekly. September 12, 2018. Archived from the original on July 16, 2019. Retrieved July 16, 2019.
- ^ "CBRE - The World's Largest Commercial Real Estate Services Firm". Innovation Hub USA. November 11, 2018. Archived from the original on July 16, 2019. Retrieved July 16, 2019.
- ^ "The Largest Commercial Real Estate Brokerages in the U.S." CarletonSheets. Archived from the original on February 13, 2023. Retrieved July 16, 2019.
- ^ "CBRE Group". Fortune. Retrieved May 26, 2020.
- ^ a b ""Annual Report 2018" pg7" (PDF). Archived from the original (PDF) on May 10, 2021. Retrieved July 8, 2019.
- ^ "The "Big four" global firms in the Commercial Real Estate industry". Xenofan Consultants. September 25, 2024. Archived from the original on October 9, 2025. Retrieved October 9, 2025.
- ^ "About Coldwell Banker Real Estate". www.Ethel Curbow. Archived from the original on October 28, 2018. Retrieved July 9, 2019.
- ^ "History of CB Richard Ellis Group, Inc". FundingUniverse. Retrieved July 9, 2019.
- ^ Rowe Jr., James L. (October 6, 1981). "Sears to Acquire Coldwell, Banker Real Estate Firm". The Washington Post.
- ^ "SEARS AGREES TO SELL COLDWELL COMPANY". Daily Press. March 28, 1989. Retrieved July 9, 2019.
- ^ "Sears OKs Deal to Sell Coldwell Commercial Unit". Los Angeles Times. March 28, 1989. ISSN 0458-3035. Retrieved July 9, 2019.
- ^ a b Rudd, David C. (March 28, 1989). "SEARS' COLDWELL BRINGS $300 MILLION". Chicago Tribune. Retrieved July 9, 2019.
- ^ a b 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. July 12, 1997. Retrieved July 9, 2019.
- ^ 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 New York Times July 9, 1998
- ^ Richard Ellis in UK buyout Australian Financial Review July 10, 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.
- ^ Phillips, David (December 26, 2013). "CBRE Closes Norland UK Deal". GlobeSt.
- ^ "CBRE Goup [sic] closes acquisition of Johnson Controls' Global Workplace Solutions business". The Economic Times. September 2, 2015. Retrieved April 27, 2019.
- ^ Kim, Betsy (June 25, 2018). "CBRE Purchases FacilitySource from Warburg Pincus for $290M". GlobeSt.
- ^ "CBRE relocating headquarters to Dallas from Los Angeles, sources say". wfaa.com. October 28, 2020. Retrieved February 11, 2021.
- ^ Price, David (July 27, 2021). "Turner & Townsend sells major stake to US firm in £960m deal". Construction News. Retrieved July 27, 2021.
- ^ a b Morby, Aaron (June 25, 2024). "CBRE and T&T to combine project management arms". Construction Enquirer. Retrieved June 25, 2024.
External links
Wikimedia Commons has media related to CBRE Group.
- Official website
- Business data for CBRE Group, Inc.:
| International | |
|---|---|
| National | |
Categories:
- 1996 initial public offerings
- 2001 mergers and acquisitions
- 2004 initial public offerings
- American companies established in 1906
- Commercial real estate companies
- Companies based in Dallas
- Companies listed on the New York Stock Exchange
- Property services companies of the United Kingdom
- Real estate companies established in 1906
- Real estate services companies of the United States
