Advertisement
 
YOU ARE HERE: LAT HomeCollectionsCb Richard Ellis Company
IN THE NEWS

Cb Richard Ellis Company

FEATURED ARTICLES
BUSINESS
November 5, 2008 | Roger Vincent, Vincent is a Times staff writer.
In a sign that financial markets remain stagnant, the struggling investment subsidiary of real estate brokerage giant CB Richard Ellis Inc. said Tuesday that it would sever relations with its Los Angeles parent company and strike out on its own. The separation, effective at the end of the year, will allow CB Richard Ellis to disassociate itself from troubled subsidiary CBRE Realty Finance Inc. and give the Hartford, Conn.-based finance company the chance to chart its own destiny.
ARTICLES BY DATE
BUSINESS
October 29, 2009 | Roger Vincent
The long-running torment of the commercial real estate industry dragged on in the third quarter, but the world's largest brokerage of office buildings, warehouses and other business properties managed to eke out a small profit. CB Richard Ellis Group Inc. reported net income of $12.4 million, or 4 cents a share, after spending the first two quarters of the year in the red. However, profit was down 69% from $40.4 million, or 15 cents a share, in the same period last year. The Los Angeles company posted adjusted earnings of 8 cents a share after deducting one-time charges mostly related to cost-cutting measures.
Advertisement
BUSINESS
November 1, 2006 | Annette Haddad, Times Staff Writer
CB Richard Ellis Group Inc., the world's biggest commercial real estate firm, agreed Tuesday to buy rival Trammell Crow Co. for $1.8 billion in cash in a deal that would boost its business catering to blue-chip companies. The deal signals a consolidation trend among commercial real estate firms, as top players seek to get bigger and offer more services amid a booming office and industrial property market, analysts said.
BUSINESS
July 30, 2009 | Roger Vincent
Amid continuing turmoil in the market for commercial real estate, CB Richard Ellis Group Inc. said Wednesday that it had lost money in the second quarter. The Los Angeles company, the world's largest commercial real estate brokerage, said it had a net loss of $6.6 million, or 2 cents a share, compared with a profit of $16.6 million, or 8 cents a share, a year earlier. Revenue was down 27% to $955.6 million.
BUSINESS
March 10, 2004 | Roger Vincent, Times Staff Writer
Three prominent Los Angeles commercial real estate brokers have left CB Richard Ellis Group Inc. to join Madison Partners and create a full-service boutique real estate firm. Hunt Barnett, Rick Buckley and Chris Houge, who have been involved in some of Southern California's biggest real estate transactions in recent years, resigned from CB Richard Ellis on Tuesday.
BUSINESS
July 24, 2003 | Roger Vincent, Times Staff Writer
Los Angeles-based CB Richard Ellis, the nation's largest commercial real estate brokerage, on Wednesday completed its acquisition of New York rival Insignia Financial Group for about $431 million in cash. The deal, which was announced in February, gives CB Richard Ellis the more substantial presence in New York and London it has sought for years and combines rival operations in Los Angeles. Few jobs will be cut as a result of the merger, principals said. About 3.
BUSINESS
July 22, 1999 | JESUS SANCHEZ, TIMES STAFF WRITER
Faced with a slowdown in commercial property sales and leasing, Los Angeles-based CB Richard Ellis Services Inc. on Wednesday said its second-quarter results would be 50% below Wall Street estimates, spurring the huge real estate services and brokerage firm to reorganize and lay off managers.
BUSINESS
July 3, 2001
CB Richard Ellis has opened a new office in Lancaster to serve the Antelope Valley and has named industrial brokers Chuck Hoey and Lenny Dance to staff the office. The company formerly handled Antelope Valley business from its Bakersfield office but needs the new office because of growth in the Antelope Valley, said Vince Roche, a vice president in the Bakersfield office.
BUSINESS
February 4, 2005 | Roger Vincent
Los Angeles-based CB Richard Ellis Group Inc. reported fourth-quarter profit of $66.4 million, or 88 cents a share, contrasted with a loss of $10.1 million, or 16 cents, in the final quarter of 2003. The real estate services company generated revenue of $798.2 million, up 28.5% from a year earlier. For the full year, the company reported a profit of $64.7 million, or 91 cents a share, contrasted with a net loss of $34.7 million, or 68 cents, for the previous year.
BUSINESS
May 5, 2005 | Roger Vincent
Real estate services firm CB Richard Ellis Group Inc. reported improved earnings in the first quarter as office leasing increased and the real estate investment market remained robust. The Los Angeles company posted a profit of $14.6 million, or 19 cents a share, contrasted with a net loss of $16.6 million, or 26 cents, a year earlier. Revenue increased 22% to $538.3 million.
BUSINESS
June 19, 2009 | Roger Vincent
CB Richard Ellis Group Inc., the world's largest commercial property brokerage, borrowed $450 million Thursday at a steep interest rate as part of the firm's effort to stay solvent in the most punishing real estate market in decades. The Los Angeles-based company raised the money by selling new bonds. It is using the proceeds, along with $150 million that it raised last week by selling new common stock, to help pay off hundreds of millions of dollars in loans coming due this year and next.
BUSINESS
April 30, 2009 | Roger Vincent
Commercial real estate brokerage CB Richard Ellis Group Inc. on Wednesday reported its first loss since it went public nearly five years ago, capping months of difficulty in the depressed property market. The Los Angeles company said it had a net loss of $36.7 million, or 14 cents a share, in the first quarter compared with a profit of $20.4 million, or 10 cents, in the same period in 2008. Revenue was down 28% to $890 million.
NATIONAL
April 22, 2009 | Associated Press
Sen. Dianne Feinstein (D-Calif.) offered to help secure federal funds for the Federal Deposit Insurance Corp. days before the agency awarded a contract to her husband's company in the housing foreclosure crisis. On Oct. 30, Feinstein expressed backing for FDIC Chairwoman Sheila Bair's proposal to stem home foreclosures through the use of federal bailout funds for the agency.
BUSINESS
April 11, 2009 | Associated Press
The chief executive for Los Angeles commercial real estate services company CB Richard Ellis Group Inc. saw his total compensation for 2008 fall 45% after he declined a performance-based bonus. CEO Brett White's total compensation fell to $3.3 million from about $6.1 million the year before, according to an Associated Press calculation based on a filing with the Securities and Exchange Commission.
BUSINESS
March 25, 2009 | Roger Vincent
International commercial real estate services giant CB Richard Ellis Group Inc., which has been thrashed by the dismal real estate market and prolonged credit freeze, has gotten a break from its bankers, the company said Tuesday. CB Richard Ellis renegotiated its credit agreement with dozens of lenders, it said. Under the new agreements, the company may now experience a further decrease in revenue without triggering violations of the terms of its loans.
BUSINESS
February 11, 2009 | Roger Vincent
Battered by falling sales and leasing activity, international commercial real estate brokerage company CB Richard Ellis Group Inc. reported a 94% drop in profit during the fourth quarter Tuesday but still managed to beat Wall Street's expectations. The Los Angeles company said it had net income of $6.5 million, or 3 cents a share, compared with $122.4 million or 54 cents, in the same period a year ago. Revenue was down 30% to $1.3 billion.
BUSINESS
November 14, 2008 | Bloomberg News
Shares of CB Richard Ellis Group Inc. jumped 43% on Thursday after the world's largest real estate broker raised about $180 million in a secondary stock sale. The company, based in Los Angeles, sold 50 million Class A shares at $3.77 each, according to a statement issued Wednesday. CB Richard Ellis had abandoned plans to raise $300 million to $400 million through the private sale of convertible preferred stock.
BUSINESS
November 12, 2008 | Roger Vincent, Vincent is a Times staff writer.
Shares of CB Richard Ellis Inc., the world's largest real estate brokerage, fell 23% on Tuesday to near a four-year low after the Los Angeles company dropped plans to raise money through a private offering and instead sell more shares to the public. In a document filed Monday with the Securities and Exchange Commission, the brokerage said discussions with private investors intended to raise as much as $400 million didn't pan out and were terminated.
Los Angeles Times Articles
|