February 8, 2003 |
Los Angeles real estate giant CB Richard Ellis Inc. is in merger talks with Insignia Financial Group Inc. Such a pairing would create the world's biggest commercial real estate brokerage. The talks center on a "proposed combination of the two organizations," according to a spokesman for Insignia, the fourth-largest brokerage. Shares of New York-based Insignia rose $1.35, or 16%, to $9.72 on the New York Stock Exchange. CB Richard Ellis, the country's largest brokerage, is closely held.
April 1, 1995 |
O'Donnell Property Services Inc., Orange County's third-largest commercial real estate management firm, said Friday that it has agreed to be sold to a South Carolina firm. Terms of the deal, in which O'Donnell Property will be acquired by Insignia Financial Group Inc. in Greenville, S.C., were not disclosed. With 7.
February 19, 2003 |
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.
November 17, 1999
* Los Angeles-based Starving Students, one of the largest moving companies in the U.S., has named Richard Noyes its chief financial officer. He previously worked as controller at Merchants Home Delivery Service. Starving Students operates in 10 states. Data Exchange Corp. has named Philip Pietrowski executive vice president of business development. Pietrowski, a former senior vice president of business development of Cerplex Corp.
February 11, 2003 |
Financier Carl Icahn is considering merging one of his units with Insignia Financial Group Inc., the fourth-largest U.S. commercial real estate brokerage, Icahn said in a regulatory filing. Icahn's High River and Insignia "are considering whether to explore the possibility of a merger without a tender offer," according to a Securities and Exchange Commission filing. High River and New York-based Insignia have signed a confidentiality agreement allowing them to exchange information.
March 10, 1998 |
Grubb & Ellis Co., after coming close to bankruptcy in recent years, is riding the real estate boom to prosperity and has designs to expand globally. "We need to be international," Chairman and Chief Executive Neil Young told the Bloomberg Forum on Monday. "It's a top priority." Real estate services companies like Northbrook, Ill.-based Grubb & Ellis are for the first time expanding overseas as more U.S. corporations grow internationally and need sites scouted and leases negotiated.