CB Richard Ellis Arranges Largest Commercial Property Transaction in United Kingdom History; Firm Represents Abbey National in $2.2 Billion Sale to ING Unit.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. Group, Inc. (NYSE NYSE See: New York Stock Exchange :CBG CBG corticosteroid-binding globulin. ) today announced that its London-based Capital Markets Group advised Abbey National PLC, a subsidiary of Spanish bank Grupo Santander, in the sale of its 128-property commercial portfolio in the United Kingdom to ING Real Estate Investment Management (UK Funds) Ltd. for approximately $2.2 billion. The sale marked the United Kingdom's largest commercial property transaction. The 6.5-million-sq.-ft. portfolio, which is currently 85 percent leased, is comprised of retail, office, industrial and other mixed-use properties located throughout Great Britain. CB Richard Ellis completed the transaction through a coordinated effort involving multiple business lines. About CB Richard Ellis CB Richard Ellis (NYSE:CBG), a FORTUNE 1000 company headquartered in Los Angeles, is the world's leading commercial real estate services firm (in terms of 2004 revenue). The company serves real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. ; investment management; valuation and appraisal; research and investment strategy; and consulting. Including partners and affiliates, the company has over 300 offices in more than 50 countries around the world. Please visit our Web site at www.cbre.com. |
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