London, 17 June 2010 – CB Richard Ellis (CBRE) today announced that it has been appointed sole global provider of transaction management and estates management services for the world’s leading music company, Universal Music Group (UMG).
CBRE will support UMG’s unique highly cellular office space, which comprises a significant level of closed working hubs, and warehouse property portfolio, which is spread over 46 countries, comprising over 140 properties and a total of 3 million sq ft globally, 1.1 million sq ft of which is located in the Europe, Middle East and Africa (EMEA) region.
Matthew Pullen, Head of Global Corporate Services - EMEA, CBRE, said: “We are delighted to have the opportunity to partner with Universal Music Group and support the development and delivery of the next generation of their corporate real estate strategy. This is the first time UMG has entered into a framework agreement with a real estate provider, so it’s a particularly significant appointment and a great acknowledgement of the trust our clients have in our global capability.”
Boyd Muir, Executive Vice President and CFO, Universal Music Group International, said: “CBRE represented the most capable international real estate provider for us and has displayed a clear commitment to aligning its teams with our business needs and development. We’re looking forward to collaborating with the CBRE teams to deliver innovative, high quality real estate solutions in the years ahead.”
About CB Richard Ellis
CB Richard Ellis 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 2009 revenue). The Company has approximately 29,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis 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. CB Richard Ellis has been named a BusinessWeek 50 “best in class” company for three years in a row. Please visit our website at www.cbre.com.