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Cb Richard Ellis Company

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BUSINESS
February 19, 2003 | Roger Vincent, Times Staff Writer
Los Angeles-based CB Richard Ellis, the nation's largest commercial real estate brokerage, agreed Tuesday to buy New York rival Insignia Financial Group for about $415 million in cash, as the industry continues to struggle with a glut of office space and a dearth of lease transactions. The deal, which is expected to close in June, would give CB Richard Ellis the substantial presence in New York it has sought for years.
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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.
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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 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
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
October 26, 2006 | From Bloomberg News
CB Richard Ellis Group Inc., the big Los Angeles commercial real estate company, said Wednesday that third-quarter profit rose 62% on increased leasing and property management. Net income climbed to $92.3 million, or 39 cents a share, from $56.9 million, or 25 cents, a year earlier. The average estimate of seven analysts surveyed by Thomson Financial was 36 cents a share.
BUSINESS
November 28, 2000 | JESUS SANCHEZ, TIMES STAFF WRITER
For some real estate firms, Wall Street has turned into a dead end. Disappointed with their stock's performance, the top managers and key investors of Los Angeles-based CB Richard Ellis Services Inc. this month unveiled a $340-million buyout offer that would take the huge real estate firm private only four years after it joined the New York Stock Exchange. In a more drastic move, the shareholders of Newport Beach-based Pacific Gulf Properties Inc.
BUSINESS
November 4, 2004 | From a Times Staff Writer
Los Angeles-based real estate services company CB Richard Ellis Group Inc. reported a third-quarter profit of $11.9 million, or 16 cents a share, compared with a loss of $28.4 million, or 49 cents, a year earlier. Revenue rose 36% to $575 million. The company, which went public in June, raised its profit forecast for the year to $1.50 to $1.55 a share from $1.45 to $1.55, citing an improving economy and market-share gains. Excluding one-time items, profit was $29.
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.
BUSINESS
July 30, 2008 | Roger Vincent, Times Staff Writer
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.
BUSINESS
April 30, 2008 | From Times Wire Services
Commercial real estate broker CB Richard Ellis Group Inc. said Tuesday that first-quarter profit climbed 71% on gains in leasing property. Net income rose to $20.5 million, or 10 cents a share, from $12 million, or 5 cents, a year earlier, the Los Angeles-based company said. Revenue increased 1.4% to $1.23 billion. CB Richard Ellis earned 15 cents a share excluding certain items and expenses, less than the 21 cents projected by analysts in a Bloomberg survey. Its shares fell $1.03, or 4.4%, to $22.55 before the earnings news.
BUSINESS
July 31, 2007 | Roger Vincent, Times Staff Writer
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.
BUSINESS
May 31, 2007 | Roger Vincent, Times Staff Writer
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.
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