July 28, 2011 |
Profit and revenue at the world's largest commercial property brokerage grew in the second quarter as sales and leasing activity picked up. Los Angeles-based CB Richard Ellis Group Inc. said the company's revenue from arranging real estate transactions increased globally as investors returned to the property market and businesses hastened to take advantage of reduced rents. "Despite continued uncertainty in the macro environment, revenue rose by double digits in nearly every service line in all three geographic regions," Chief Executive Brett White said.
February 16, 2011 |
CB Richard Ellis Group Inc. has agreed to buy ING Group's real estate investment management business in a $940-million deal that would make CB Richard Ellis the global leader in that business. Los Angeles-based CB Richard Ellis, already the world's largest commercial real estate brokerage, said that the proposed transaction, announced Tuesday, would substantially increase its footprint in Asia and Europe by taking over ING Group's 20 investment offices and 760 employees. Investment managers raise money from pension funds, universities and other institutional investors and buy commercial real estate such as offices, warehouses and shopping centers on their behalf.
February 4, 2011 |
Growth accelerated in the fourth quarter for the world's largest commercial property brokerage as the economies improved in Asia and the United States and more companies made real estate decisions. Los Angeles-based CB Richard Ellis Group Inc. exceeded Wall Street's earnings expectations, posting double-digit gains Thursday in every global business line except real estate development services. "Companies are trying to lock in real estate leases or buy property before prices get out of control," said analyst Craig Silvers, president of Bricks & Mortar Capital.
July 28, 2010 |
CB Richard Ellis Group Inc., the world's largest commercial real estate brokerage, reported a return to the black in the second quarter as revenue rose in nearly all its business lines around the world. Although much of the local commercial property market remains depressed, improving global conditions allowed the Los Angeles company to report a profit of $54.8 million, or 17 cents a share, compared with a net loss of $6.6 million, or 2 cents, in the second quarter of 2009. The company posted adjusted earnings of 18 cents a share after deducting select charges, well ahead of Wall Street analysts' prediction of 9 cents.
April 29, 2010 |
CB Richard Ellis Group Inc., the world's largest commercial real state brokerage, reported a first-quarter loss Wednesday but said the business of selling and leasing buildings was picking up. The Los Angeles-based company said it had a net loss of $6.6 million, or 2 cents a share, compared with a loss of $36.7 million, or 14 cents, in the same period a year ago. The company posted adjusted earnings of 1 cent a share after deducting one-time...
February 4, 2010 |
Led by an economic rebound in Asia, the world's largest brokerage of office buildings, warehouses and other business properties surprised Wall Street with a solid fourth-quarter profit and a slight increase in revenue. And, for the first time in two years, CB Richard Ellis discussed future earnings prospects, projecting 6% to 8% annual growth in revenue. The global economy appears to be heading toward a more "normal" operating environment, the company said. Real estate brokerages are among the first to see changes in corporate bosses' moods, analyst Craig Silvers said.