Wall Street Journal (05/16/12) Hudson, KrisCBRE Group Inc. continues to describe its 2006 acquisition of Trammell Crow Co. as "the deal that keeps on giving." While the $2.2 billion deal saddled CBRE with a huge debt load just two years before the economy tanked, it also elevated the firm into the upper echelon of the property-management business and gave it a steady stream of income to ride out the recession. Now, CBRE has realized another benefit it gained in the deal: its next CEO. The company announced a week ago that ex-Trammell Crow CEO Robert Sulentic has agreed to succeed CBRE Chief... MoreAbstract News © 2012 INFORMATION, INC.
Property-Report.com (05/16/12)Investment value across the Asia-Pacific region plunged during the first three months of 2012, reports CB Richard Ellis. Throughout Asia, investment plummeted by 42 percent quarter on quarter as Chinese mainland investment dramatically plummeted by 70 percent. In terms of dollars, investment in China fell to US$949 million from January through March. Greg Penn, executive director of CBRE Investment Properties in Asia, remarks, "China's property investment market was relatively quiet in the first quarter, in part due to the Chinese New Year holiday,... MoreAbstract News © 2012 INFORMATION, INC.
Wall Street Journal (05/16/12) Pruitt, A.D.Some analysts did not applaud when word spread earlier in the year that Boston Properties Inc. was possibly close to acquiring its first office building in London. Critics urged the company to stick to its U.S. roots. Since then, Boston Properties has indeed scrapped plans to acquire Drapers Gardens, a trophy office building in London's financial district. The company, which ranks among the largest office building owners in the U.S., was in talks to purchase the 292,500-square-foot building for a reported sum of $450 million. Private-equity firm... MoreAbstract News © 2012 INFORMATION, INC.