CB Richard Ellis Group, Inc. NYSE: CBG (known as CBRE) is the world's largest commercial real estate services company. The multinational company is currently based in the Westwood section of Los Angeles, California, U.S.A. and manages 1.9 billion square feet of building space from more than 300 offices in more than 50 countries.
| CB Richard Ellis Group, Inc. |
|
| Type |
Public (NYSE: CBG) |
| Founded |
1773 |
| Headquarters |
Los Angeles, California, USA |
| Key people |
Richard C. Blum, Chairman
W. Brett White, President, CEO & Director
Kenneth J. Kay, CFO & SEVP |
| Industry |
Commercial Real Estate Services |
| Products |
Asset Services, Brokerage, Capital Markets, Consulting, Corporate Services, Debt & Equity Financing, Facilities Management, Industrial, Investment Brokerage/Agency, Investment Management, Mapping Services, Project Management, Property Management, Research & Investment Strategy, Retail, Specialty Services and Valuation & Advisory Services |
| Revenue |
▲ $6.034 billion USD (2007) |
| Employees |
29,000 |
| Website |
www.cbre.com |
History
- Richard Ellis International, Limited was founded in London, England in the year, 1773.
- Tucker, Lynch & Coldwell was established in 1906.
- Benjamin Banker is named partner in 1914.
- Tucker Lynch was renamed Coldwell, Banker & Co in 1940.
- In 1969, Coldwell Banker began trading stock.
- The New York commercial real estate firm Sutton & Towne, Inc was acquired by Coldwell Banker in 1980.
- Sears, Roebuck & Co. acquired Coldwell Banker in 1981.
- In 1989, the Coldwell Banker Commercial Division (CB Commercial) was spun off as a separate company from Coldwell Banker Real Estate and sold to a group of investors, management and employees.
- CB Commercial acquired: Westmark Realty Advisors in 1995, L.J. Melody & Company mortgage bankers in 1996, Koll Real Estate Services in 1997 and Hiller Parker in 1998.
- CB Commercial went public in 1996.
- The merger of CB Commercial and Richard Ellis International, Limited (REI Ltd.) in 1998 resulted in a new company named, CB Richard Ellis (CBRE).
- In 1999, Japanese operations were merged with Ikoma Corporation; Sweden's Profit Group and Chile's LirAntunez Propiedades were acquired.
- CBRE was privatized in 2001.
- Insignia Financial Group was acquired in 2003.
- For a second time, CBRE went public on the New York Stock Exchange in 2004.[2]
- At the end of 2006, CBRE completed the acquisition of competitor Trammell Crow Co. in a transaction valued at $2.2 billion.[3][4]
Overview
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2007 revenue). With over 29,000 employees, the Company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate offices). CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis is the only commercial real estate services company named one of the 50 “best in class” companies by BusinessWeek, and was also named one of the 100 fastest growing companies by Fortune.
CBRE's current corporate headquarters in Los Angeles
Mission Statement
The mission of CBRE is to deliver superior results for stakeholders by:[5]
- Putting the client first - always
- Collaborating across markets and service lines
- Thinking innovatively, but acting practically
- Providing a rewarding work environment.
Values
The company believes that their corporate values are the foundation upon which the company was built. Those values are timeless and transcend all markets, service lines, languages and business cultures. To stay successful, the company must R.I.S.E.[6]
RESPECT - Treat everyone with dignity, value their contributions and help one another succeed
INTEGRITY - Uphold the highest ethical standards in business practices
SERVICE - Be dedicated to making a meaningful impact with each client and in your communitiy
EXCELLENCE - Aspire to be the best in everything you do and strive for continuous improvement
Corporate governance
Current members of the board of directors of the corporation are Richard Blum (chairman), Ray Wirta (vice chairman), Brett White (CEO), Patrice Daniels, Senator Thomas Daschle, Curtis Feeny, Bradford Freeman, Michael Kantor, Frederic Malek, Jane Su, Robert Sulentic and Gary L. Wilson.
Divisions
CBRE has divisions that address virtually every aspect of the commercial real estate market, including:
- Asset Services
- Facilities Management
- Commercial
- Industrial
- Retail
- Brokerage
- Tenant & Landlord Representation using Chinese wall[7]
- Investment Brokerage/Agency
- Capital Markets
- Management
- Investment (CBRE Investors)
- Project
- Research & Investment Strategy (Torto Wheaton Research)
- Services
- Consulting
- Corporate
- Mapping
- Specialty
- Valuation and Advisory
- Debt & Equity Financing (L.J. Melody & Co.)
This article uses content from http://www.wikipedia.org
