Cb Richard Ellis Company

The largest real estate brokerage in the world, Los Angeles-based CB Richard Ellis Group Inc., reported a steep drop in second-quarter profit as the international credit crisis stifled property transactions. "Our second-quarter 2008 results were affected by a notably weakened market environment," company President Brett White said in a statement.

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.

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.

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.

CB Richard Ellis Group Inc., the largest commercial real estate broker by market value, said fourth-quarter earnings climbed 31% on increased demand for office and retail space in the U.S., Europe and Asia. Net income rose to $125.1 million, or 53 cents a share, from $95.4 million, or 41 cents, a year earlier, the El Segundo-based company said. Revenue increased 36% to $1.41 billion. Analysts in a Bloomberg survey estimated profit at CB Richard Ellis of 55 cents a share for the quarter.

Commercial real estate broker CB Richard Ellis Group Inc. said Tuesday that first-quarter profit fell 68%, the first decline in almost three years, on charges related to its purchase of Trammell Crow Co. for $1.9 billion. Net income fell to $12 million, or 5 cents a share, from $36.9 million, or 16 cents, a year earlier, the Los Angeles-based company said. Revenue increased 62% to $1.2 billion. Excluding one-time charges, net income rose 62% to $65 million, or 27 cents a share.

CB Richard Ellis Group Inc. said it would go "carbon neutral" by 2010 -- cutting its creation of greenhouse gases to virtually nothing by reducing energy use and, if necessary, buying carbon offsets. The National Resources Defense Council said the El Segundo-based company was the first major commercial real estate services company to declare its commitment to environmentally friendly practices meant to reduce global warming.

Real estate services company CB Richard Ellis Group Inc. on Monday reported that profit more than doubled in the second quarter of 2007 on strong commercial real estate transaction activity across the globe and a major acquisition. The largest international commercial real estate brokerage is benefiting from a wave of U.S.

Female employees of real estate brokerage CB Richard Ellis Group Inc. may recover as much as $150,000 in damages each under terms of a class-action sexual harassment lawsuit settlement reached this week. The total cost of the settlement is unclear, but women who worked for the Los Angeles-based company in the last eight years may pursue claims, according to papers filed Thursday in U.S. District Court in Chicago.

CB Richard Ellis Group Inc., the world's largest commercial real estate broker, said Monday that its third-quarter profit rose 24.5%, helped by investment sales brokerage and international leasing. Net income rose to $114.9 million, or 48 cents a share, from $92.3 million, or 39 cents, a year earlier, the Los Angeles-based company said. Revenue increased 54% to $1.49 billion.