Stockholm, 2 September 2013 – CBRE Group, Inc., the leading global commercial real estate services and investment firm, today announced that it has acquired a majority interest in Basale Sverige AB (“Basale Sweden”), a property and asset management company based in Stockholm, from Basale AS.
Basale Sweden is one of the country’s leading property management businesses, providing property management and leasing, facilities management, accounting, risk management and procurement services to a range of institutional, private and public clients.
The company’s professional team will become part of CBRE’s leading EMEA Property and Asset Management practice, which manages over 35 million square metres (377 million square feet) of assets across the region with a focus on premier properties, shopping centres and major portfolios. In response to growing client demand, CBRE has significantly strengthened this capability in EMEA, underlined by its recent acquisitions of specialist property management firms in the Czech Republic (IMPACT CORTI) and Belgium (SOGESMAINT-CBRE).
The firm will be renamed CBRE-Basale AB, and its team will continue to be led by Ulf Attebrant, currently CEO of Basale Sweden.
With offices in Stockholm and Gothenburg, CBRE is one of Sweden’s leading commercial real estate advisors, offering a broad range of services, including investment sales, leasing, valuation and corporate services.
Commenting, Michael Strong, Executive Chairman, EMEA, CBRE, said:
“Our clients are increasingly looking for a service provider that can address all of their real estate requirements, providing integrated transaction and real estate management services. We are committed to extending our property and asset management services for clients across the European markets and this investment represents our third expansion of this service line in 2013.
“By bringing on board a company with one of the best property management track records in Sweden, and a highly respected management team, we are continuing to enhance what is already the leading property and asset management platform in the EMEA region.”
Ulf Attebrant, added:
“Combining our leading platform and track record with CBRE’s substantial global reach and strength across all property sectors will be of huge benefit to our clients. As part of one of the most integrated and respected commercial real estate advisory companies in the world, we will be able to deliver enhanced strategic advice and market insight to clients whether local, regional or global.”
Guy Hollis, Managing Director of the Nordics Region, CBRE commented:
“Our Swedish business goes from strength to strength, and this investment adds an extra dimension to our client offering. Combined with our recent appointment of Patrik Kallenvret as the country’s new Managing Director, this move underlines our ambitious growth plan for our Swedish business including client acquisition.”
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 and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 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.