London, 30 September 2011 – CB Richard Ellis Group, Inc. (CBRE) today announced the acquisition of SCM Europe BV (“SCM”), a leading Dutch shopping centre management company, further strengthening its leadership in the European retail real estate sector.
SCM provides property management, development consultancy and leasing services to a broad range of clients including Syntrus Achmea and ING Real Estate Investment Management. The company manages 59 retail assets covering 6.7 million sq ft of space. Its portfolio includes leading Dutch high-street shopping centres such as the Rotterdam Lijnbaan and the Eindhoven Heuvel Gallery, as well as the renowned Megastores in The Hague and the Megastores of Rotterdam Alexandrium.
CBRE’s pan-European retail business has grown significantly through both organic growth and strategic acquisitions, delivering on the company’s strategy of continually developing the depth and breadth of its services. Last month, CBRE acquired Michael Peddar & Company, a UK-based retail property specialist, focusing on the luxury goods and lifestyle sectors, and earlier this year, it purchased Euro Mall Centre Management, a major retail property manager in Central and Eastern Europe. In late 2008, CBRE acquired Espansione Commerciale, the market leader in shopping centre leasing and property management in Italy.
Mike Strong, Chairman & CEO of CBRE in Europe, Middle East and Africa (EMEA), said: “At CBRE, we are continually working to enhance and improve our services for clients. The acquisition of SCM Europe brings on board a best-in-class operator to deliver on this strategy and to further strengthen our business. This is our third strategic retail services acquisition in EMEA this year, expanding our leadership in the retail real estate sector and cementing our role as the leading provider of shopping centre management services in the region.”
Albert Hoogland, Managing Director of SCM Europe, added: “SCM Europe has grown to become the leading shopping centre manager in the Netherlands. By joining CBRE, a global leader with a like-minded focus on excellence and a retail advisory practice that is second to none, we will be able to deliver significant benefits to existing and new clients as we grow this business together.”
Marco Hekman, CEO of CBRE in the Netherlands, said: “Shopping centres are one of the most favoured investment assets in the Dutch market, due in part to their secure catchment areas, drawing significant investor interest. By combining SCM Europe’s shopping centre management expertise with the strength and breadth of our existing services and people, we are able to offer an even greater level of service and advice to our clients, and build on our leading position in retail property in the Netherlands.”
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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 2010 revenue). The Company has approximately 31,000 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. 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 SCM Europe BV 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 SCM Europe with the existing CB Richard Ellis operations in the Netherlands, and the ability to leverage the combined platform to capture a larger share of the retail property management market in Europe, as well as other risks and uncertainties discussed in CB Richard Ellis’ 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, CB Richard Ellis 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 CB Richard Ellis 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 CB Richard Ellis’ 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, 2010 and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2011. Such filings are available publicly and may be obtained off the Company's website at www.cbre.com
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