Michael Strong, Chairman & CEO of Europe, Middle East and Africa, CBRE, said:
“We are committed to continually investing in our business with a focus on improving our offer to clients. London is one of the most important real estate markets globally and extending our leadership position to new segments of the city enhances our ability to respond to client requirements. EA Shaw is an ideal partner for us; our combined commercial and residential offerings provide another significant dimension to our London and international capabilities.”
Adam Hetherington, Managing Director, Central London, CBRE commented:
“The combination of EA Shaw and CBRE creates a formidable force in the central London market with a unique capability to provide advice across both the residential and commercial sectors. EA Shaw is highly regarded in the residential market, and alongside their strength in development marketing, they bring a highly skilled lettings, management and second-hand sales/acquisitions services team to CBRE.”EA Shaw’s Charlie Killen added: “We are exceptionally proud of our achievements at EA Shaw. By aligning our specialist expertise and intensive market knowledge with CBRE’s broad-ranging capabilities and truly global reach, we will be able to provide our current and future clients with the best possible service. We believe this transaction creates a powerful proposition for those seeking to promote or access opportunities in the central London market. In particular, the prospects for furthering our commercial real estate business and building a sizeable residential team together serving the cross-border prime and super-prime markets are incredibly exciting.” This is the second investment CBRE has made in the UK this year, following the acquisition of Franc Warwick in September. About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com. “Safe Harbor” Statement Under the U.S. Private Securities Litigation Reform Act of 1995 Certain of the statements in this release regarding the acquisition of EA Shaw that do not concern purely historical data are forward-looking statements within the meaning of the ''safe harbor'' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties, including, but not limited to, the ability of the parties to successfully integrate the operations of EA Shaw with CBRE’s existing commercial and residential real estate operations in the London market, and the ability to leverage the combined operations to capture a larger share of the prime and super-prime residential market and the commercial market in London, as well as other risks and uncertainties discussed in CBRE’s filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release and, except to the extent required by applicable securities laws, CBRE expressly disclaims any obligation to update or revise any of them to reflect actual results, any changes in expectations or any change in events. If CBRE does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements, and risks to CBRE’s business in general, please refer to the Company’s SEC filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2012. Such filings are available publicly and may be obtained off the Company's website at www.cbre.com or upon request from the CBRE Investor Relations Department at email@example.com.