CBRE Group, Inc. (an initialism ofColdwell Banker Richard Ellis) is an Americancommercial real estate services and investment firm.[2] It is the world's largest commercial real estate services and investment firm (based on 2022 revenue).[3][4][5]
The firm is ranked 135th on theFortune 500 and has been included in the Fortune 500 every year since 2008.[6] CBRE serves more than 95+ of the top 100 companies on the Fortune 100.[7] It is one of the "Big 4" commercial real estate services companies, alongsideCushman & Wakefield,Colliers andJLL.[8]
CBRE provides services to both occupiers of and investors in real estate. For occupiers, CBRE provide facilities management, project management, transaction (both property sales and leasing) and consulting services and valuation among others. For investors, CBRE provide capital markets (property sales, commercial mortgage brokerage, loan origination and servicing), property leasing, investment management, property management, sustainability, valuation and development services, among others.[7]
In 1906, Tucker, Lynch & Coldwell, the earliest predecessor to CBRE, was established.
In 1913, the company added Benjamin Arthur Banker as a partner, and it changed its name in 1918 to Coldwell, Kern & Banker. In 1919, the name became Coldwell, Kern, Cornwall & Banker, and in 1920, Coldwell, Cornwall & Banker. Cornwall retired in 1940, and the company name changed again to Coldwell, Banker & Company, which was shortened toColdwell Banker in 1974.[9][10]
In 1981, Coldwell Banker was acquired bySears.[11]
In 1989, Sears sold Coldwell Banker's commercial unit to a management-led buyout group includingThe Carlyle Group for approximately $300 million.[12][13][14] After the buyout, the company was renamed CB Commercial Real Estate Group.[15] The residential group retained the Coldwell Banker name.[14]
In 1997, the company acquired Koll Real Estate Services for $145 million.[17][18]
In 1998, CB Commercial merged with Richard Ellis International and changed its name to CB Richard Ellis (CBRE).[19] It also purchased UK firm Hillier Parker which was rebranded CB Hillier Parker.[20]
In 2019, the company acquired the London developerTelford Homes.
In 2020, CBRE moved its headquarters from Los Angeles to Trammell Crow's former headquarters building inDallas,Texas.[33]
In 2021, CBRE Group Inc paid £960 million for a 60% stake in the UK multidisciplinary professional services firmTurner & Townsend.[34] In June 2024, CBRE announced plans to merge its project management businesses into Turner & Townsend, creating a $3bn business employing over 20,000 staff in 60 countries.[35] CBRE will also increase its T&T ownership stake to 70%.[35]