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CB Richard Ellis Real Estate Services LLC history
CB Richard Ellis Real Estate Services LLC company history timeline
In 1992, the company was rocked further when a jury in Orlando, Florida awarded $8.5 million to the former owner of an office complex who accused CB Commercial, his leasing agent, of fraud for negotiating a lease for his largest tenant with another office complex.
By 1994, CB Commercial had revenues of $452 million and a net profit of barely $4 million.
In 1996, the company also formed CB Commercial Partners Inc., a subsidiary that licensed independent commercial real estate offices to use the CB Commercial name and resources.
CB Commercial went public in 1996 in an $80 million initial public offering (IPO) of stock.
One strong challenge was expected to come from Coldwell Banker Corp., purchased in 1996 by HFS, Inc., which also owned Century 21 and several motel and car-rental chains.
In a vision statement adopted in 1997, Didion set forth the company's goal: "To be the industry's preeminent, globally capable, vertically integrated commercial real estate services firm."
"CB Commercial, Richard Ellis Join Hands to Reach Around the World," National Real Estate Investor, May 30, 1998.
Following CB Commercial’s 1998 acquisition of Richard Ellis International Limited, which traced its roots to London in 1773, the company changed its name to CB Richard Ellis.
1999: Japanese operations are merged with Ikoma Corporation; Sweden's Profit Group and Chile's LirAntunez Propiedades are acquired.
By 2000, CBRE had revenues of $1.3 billion.
The company was taken private in July 2001 in an $800 million leveraged buyout.
Revenues were $1.6 billion in 2003; the company posted a net loss of $35 million, after a write-down related to the Insignia buy.
2003: Insignia Financial Group is acquired.
In February 2004 CBRE Holding, Inc., the parent company of CB Richard Ellis Real Estate Services, was renamed CB Richard Ellis Group, Inc.
In June 2004, CBRE began trading on the New York Stock Exchange.
CB Richard Ellis Inc., "Background Information," Los Angeles: CB Richard Ellis, Inc., July 2004.
According to statistics by Real Capital Analytics, in 2004 CBRE led the United States market for commercial property sales with a 15.8 percent share.
The company sold $28 billion worth of property in the United States alone in 2004.
Much, Marilyn, "Buyout Gives Realtor a New Lease on Life," Investor's Business Daily, February 3, 2005.
2005 – CBRE debuts on the Fortune 1000 list.
2006 – Acquisition of Trammell Crow Co.
In late 2006, CBRE merged with Trammell Crow Company in a transaction valued at $2.2 billion.
In February 2011, CBRE agreed to buy ING group’s real estate investment management business in Europe and Asia and its listed securities business, creating an enterprise with more than $90 billion of assets under management.
The company changed its name to CBRE Group, Inc. on October 3, 2011.”
2011 – For the tenth year running CBRE voted as the premier global brand in real estate by the 2011 Lipsey Company Brand survey.
2015 – In 2015, CBRE was ranked #2 (out of 500 companies) in financial growth and performance by Barron’s.
CBRE UKRAINE WON THE V EE REAL ESTATE FORUM & PROJECT AWARD 2018 AND BECAME THE PROPERTY MANAGEMENT COMPANY OF THE YEAR
2018 record year for European real estate investment
12.11.2020 Hybrid Office: At the Crossroads of Digital and Physical
12.05.2020 Record investment volumes in Europe for Q1 2020 as impact of Covid-19 awaits to be seen
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CB Richard Ellis Real Estate Services LLC competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Cushman & Wakefield | 1917 | $9.4B | 50,001 | 8,100 |
| Trammell Crow Co | - | $840.0M | 1,800 | - |
| Newmark Grubb Knight Frank | 1929 | $2.7B | 3,250 | 224 |
| Colliers International | 1976 | $21.0M | 15,000 | 214 |
| Duke Realty | 1972 | $1.1B | 200 | - |
| Pm Realty Group | 1954 | $200.0M | 750 | - |
| Combined Properties | 1984 | $2.2M | 31 | - |
| The Donohoe Companies | 1884 | $360.0M | 1,400 | 50 |
| Welltower | 1970 | $8.0B | 510 | 95 |
| Time Equities | 1966 | $1.0M | 50 | 3 |
CB Richard Ellis Real Estate Services LLC history FAQs
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