CBRE launching new service to advise property investors.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 that it has launched a new initiative to advise clients, mainly foreign investors entering the U.S. market, on the acquisition of commercial real estate. Joseph Callanan is spearheading this new initiative, called 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) Global Property Advisors, within the Company's Capital Markets Group. "Buy-side representation is common in most of the world, but is a fledgling practice in the U.S. However, continued increases in global liquidity, cross-border capital flow, and the growing participation of offshore investors in U.S. real estate have created an emerging opportunity to advise these clients on U.S. acquisitions," said Gregory S. Vorwaller, president of CBRE's Investment Properties Group. "As the market leader, CB Richard Ellis will be at the forefront of this trend." As senior managing director of CBRE Global Property Advisors, Callanan is working with CBRE colleagues in the Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). , Middle East
& Africa, Asia Pacific and Canada/Latin America America [for Amerigo Vespucci], the lands of the Western Hemisphere—North America, Central (or Middle) America, and South America. The world map published in 1507 by Martin Waldseemüller is the first known cartographic use of the name. Regions who have
clients interested in acquiring U.S. real estate. Mr. Callanan will
advise on the dynamics of the U.S. market, and collaborate with Capital
Markets professionals in local offices to develop and implement
acquisition strategies.
"This is a terrific opportunity and a natural progression for our Capital Markets business," said Mr. Callanan. "Buy-side representation constitutes close to half of our investment sales business in many parts of the world. As offshore investors move into the U.S. we are well positioned to assist them with developing strategies and capitalizing on opportunities due to the depth of our platform." In 2006, CB Richard Ellis was the number one investment sales firm, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Real Capital Analytics, with a market share of 16.4%--more than the number two and three firms combined. It's the seventh year in a row that CB Richard Ellis has been the nation's most active investment sale firm. CB Richard Ellis transacted some $2 billion of property acquisitions in the 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 market alone in 2006. Most recently, Callanan led Trammell Crow F. Trammell Crow (born June 11, 1914, in Dallas, Texas) is an American property developer who created several famous projects, including Dallas Market Center, Peachtree Center (Atlanta, Georgia), and San Francisco's Embarcadero Center. Company's Northeast Region. Prior to that, he previously led Trammell Crow's Capital Markets Group, and before that, ran Spaulding & Slye's Capital Markets Group. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion