CBRE Group, Inc. (an initialism of Coldwell Banker Richard Ellis) 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 with corporate headquarters in

Dallas, Texas Dallas () is a city in the U.S. state of Texas and the most populous city in the Dallas–Fort Worth metroplex, the List of Texas metropolitan areas, most populous metropolitan area in Texas and the Metropolitan statistical area, fourth-most ...

and global financial headquarters at Lever House in Midtown

Manhattan Manhattan ( ) is the most densely populated and geographically smallest of the Boroughs of New York City, five boroughs of New York City. Coextensive with New York County, Manhattan is the County statistics of the United States#Smallest, larg ...

. It is the world's largest commercial real estate services and investment firm (based on 2022 revenue). The firm is ranked 135th on the

Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune (magazine), Fortune'' magazine that ranks 500 of the largest United States Joint-stock company#Closely held corporations and publicly traded corporations, corporations by ...

and has been included in the Fortune 500 every year since 2008. CBRE serves more than 95 of the companies on the Fortune 100. It is one of the "Big 4" commercial real estate services companies, alongside Cushman & Wakefield, Colliers 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,

financial services Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...

, 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.

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 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 terri ...

in 1974. * In 1981, Coldwell Banker was acquired by

Sears Sears, Roebuck and Co., commonly known as Sears ( ), is an American chain of department stores and online retailer founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosen ...

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

The Carlyle Group The Carlyle Group Inc. is an American multinational company with operations in private equity, alternative asset management and financial services. As of 2023, the company had $426 billion of assets under management. Carlyle specializes in ...

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 share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) co ...

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 investm ...

, 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 and changed its name to CB Richard Ellis (CBRE). It also purchased UK firm Hillier Parker which was rebranded CB Hillier Parker. * In 2001, CBRE was acquired in a

leveraged buyout A leveraged buyout (LBO) is the acquisition of a company using a significant proportion of borrowed money (Leverage (finance), leverage) to fund the acquisition with the remainder of the purchase price funded with private equity. The assets of t ...

by an investment group led by Blum Capital for $800 million. * In 2003, the company acquired Insignia Financial Group for $415 million. * In 2004, CBRE 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 leading companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices and in ...

. * In 2006, the company acquired Trammell Crow Company for $2.2 billion. * In 2011, the company acquired the real estate investment business of

ING Group ING Group N.V. () is a Dutch multinational corporation, multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, whol ...

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 Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

and

Ireland Ireland (, ; ; Ulster Scots dialect, Ulster-Scots: ) is an island in the North Atlantic Ocean, in Northwestern Europe. Geopolitically, the island is divided between the Republic of Ireland (officially Names of the Irish state, named Irelan ...

. * In 2015, the company acquired Global Workplace Solutions from Johnson Controls. * In 2018, the company acquired FacilitySource. * 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 Dallas () is a city in the U.S. state of Texas and the most populous city in the Dallas–Fort Worth metroplex, the List of Texas metropolitan areas, most populous metropolitan area in Texas and the Metropolitan statistical area, fourth-most ...

Texas Texas ( , ; or ) is the most populous U.S. state, state in the South Central United States, South Central region of the United States. It borders Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the we ...

. * In 2021, CBRE Group Inc paid £960 million for a 60% stake in the UK multidisciplinary professional services firm Turner & Townsend. 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. CBRE will also increase its T&T ownership stake to 70%. * In January 2025, CBRE established a new global financial headquarters at Lever House in

Midtown Manhattan Midtown Manhattan is the central portion of the New York City borough of Manhattan, serving as the city's primary central business district. Midtown is home to some of the city's most prominent buildings, including the Empire State Building, the ...

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