CBRE Capital Markets' $800m Duke trump card.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. announced the role of its CBRE CBRE CB Richard Ellis (real-estate firm) CBRE Chemical, Biological, Radiological and Explosive CBRE Component-Based Reliability Estimation CBRE Coldwell Banker Richard Ellis (Boston, MA) Capital Markets Group as equity placement agent for Duke Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Corporation's previously announced joint venture with CB Richard Ellis Realty Trust. The new venture will ultimately include the acquisition of up to $800 million of newly developed bulk industrial build-to-suit projects over the next three years. The new partnership allows Duke Realty Corporation to recycle re·cy·cle tr.v. re·cy·cled, re·cy·cling, re·cy·cles 1. To put or pass through a cycle again, as for further treatment. 2. To start a different cycle in. 3. a. capital while maintaining critical relationships with key national tenants. CBRE Capital Markets served as Duke Realty's equity placement agent in the transaction. The initial portfolio included six properties to seed the new venture, totaling approximately 5.2 million square feet of bulk industrial space with an agreed value of approximately $250 million. "The work of Jack Fraker and his team on the Duke private placement is a tangible example of the strategic direction of CBRE Capital Markets to be the market leader not only for our core investment sales and finance businesses but also for investment banking transactions," says Greg Vorwaller, president of Investment Properties with CB Richard Ellis. The initial 5.2 million square feet of industrial assets were selected from top tier distribution markets including Dallas, Phoenix, Indianapolis, Jacksonville and Columbus. All future assets contributed to the venture will focus on opportunities situated with proximity to the nation's existing transportation infrastructure, capitalizing on current logistical lo·gis·tic also lo·gis·ti·cal adj. 1. Of or relating to symbolic logic. 2. Of or relating to logistics. [Medieval Latin logisticus, of calculation demands with future upside potential Upside potential The amount by which analysts or investors expect the price of a security may increase. upside potential The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar . "The new venture with CB Richard Ellis Realty Trust allows us to retain an interest in key bulk industrial build-to-suit projects, as well as maintain our existing client relationships," says Bob Chapman, COO (Cell Of Origin) See mobile positioning. with Duke Realty Corporation. Denny Oklak, Chairman and Chief Executive Officer of Duke, says, "This venture allows Duke to recycle a significant amount of capital and strengthen our private capital track record with the ultimate goal of launching additional funds." |
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