CBRE buys cost segregation business.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. announced that it has acquired the cost segregation business of Marshall and Stevens Incorporated, a leading national valuation company based in 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. . The acquisition signals CB Richard Ellis' entry into engineering-based cost segregation services, a business that is complementary with the Company's core sales, leasing, property management and valuation services. Engineering-based cost segregation delays federal tax payments and increases net cash flow for property owners and occupiers by identifying property improvements that are eligible for accelerated depreciation Accelerated Depreciation Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years of the life of an asset. Notes: The straight-line depreciation method spreads the cost evenly over the life of an asset. under the Federal tax code. "This is an attractive opportunity to expand the scope of services we offer clients," said Cal Frese, CB Richard Ellis' President of the Americas Region. "Virtually every property owner, and every company that leases space, can benefit from cost segregation analysis segregation analysis n. The determination of the number of progeny that have inherited distinct and mutually exclusive phenotypes. . We are now the only real estate services company with the resources and expertise to provide clients with this service, another way that we are achieving differentiation in the marketplace." Doug Haney, President of CB Richard Ellis' National Valuation & Advisory Group, will oversee the new cost segregation business. Initially, the cost segregation business will be staffed by approximately 15 former M&S professionals who operate from offices in Los Angeles, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Chicago, northern Virginia/Washington, DC, Tampa and San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. . Chris Hitselberger will be the practice leader. According to Haney, CB Richard Ellis plans to expand its cost segregation capability by recruiting additional professionals in the five existing offices and adding cost segregation specialists in other strategic markets nationwide. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion