CBRE to advise FDIC.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 its selection as a primary advisor to the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. (FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). ) for portfolios of Owned Real Estate (ORE) nationwide. The CBRE-led team will be responsible for the management and marketing of residential and commercial ORE throughout all 50 states, Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. and the U.S. Virgin Islands. The portfolios will be comprised of assets that are held by the FDIC in its capacity as receiver for failed financial institutions. CBRE's work will include the management, leasing, and disposition of real estate assets. "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) is honored to have been awarded this important assignment and to have the opportunity to serve both the FDIC and the nation," said William Concannon, vice chairman, CBRE Global Corporate Services Activities that combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners. . "We are dedicated to delivering the highest level of service to the FDIC by bringing to bear the full spectrum of CBRE's platform and expertise." CBRE's Public Institution & Education Solutions team led by Theodore Carter, executive managing director in CBRE's Washington D.C. office, will oversee ongoing client services. Ken Pearson has been named the Alliance Director for the account and will lead a nationwide team of asset managers, property managers and marketing personnel to support the day-to-day aspects of the account from Dallas. CBRE will also incorporate its various lines of business to assist, including Valuation, Property Management, Leasing and Sales. "We are thrilled to add the FDIC to our growing list of public sector clients," stated Mr. Carter of CBRE. In addition to accessing the full breadth of CBRE's service line portfolio, CBRE has engaged Realogy, a global provider of residential real estate and relocation services Relocation services or "employee relocation" includes a range of internal business processes that are engaged to transfer employees (and often their families) or entire departments of a business to a new work location. , as a lead subcontractor for the residential real estate portion of this business and RR Donnelley's Global Real Estate Services division as the lead subcontractor for data management, reporting and inspection needs on the account. CBRE has identified other teaming partners, including small and minority businesses, to support this important account. |
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