Los Angeles, August 4, 2014 – CBRE Group, Inc. (NYSE:CBG) today announced that it has acquired CBRE | Louisville, a commercial real estate services firm that has served as CBRE’s affiliate in metropolitan Louisville, Kentucky and southern Indiana since 1996.
CBRE | Louisville is one of the Louisville region’s leading providers of leasing, investment sales, property management and consulting services. The firm, led by Managing Director David Hardy and his partners, Kevin Grove and Robert Schwartz, has a staff of 34 and manages more than 10 million square feet in the region.
“David, Kevin, Robert and their colleagues in Louisville have built their firm into the local market leader,” said John Latessa, Senior Managing Director, CBRE. “Equally important, we have worked with our Louisville colleagues for nearly 20 years, and they fully embrace our corporate values and commitment to premier client service. We look forward to working more closely than ever with the Louisville team to create value for our clients.”
Louisville is a growing business center in the Midwest, with a diversified economy that includes several Fortune 500 and many middle‐market companies. Employment in the manufacturing and logistics sectors has been a strong growth driver in the region, along with the health care sector and the medical science industry, which has contributed significant advancements in both heart and hand surgery. Downtown Louisville continues to experience a strong growth period with numerous multi-million dollar construction and renovation projects under way.
“We have always been passionate about delivering the best possible service to our clients,” said Mr. Hardy. “By fully integrating into CBRE’s premier global platform, we can take our service to the next level of scale and quality.”
Mr. Hardy will join CBRE as its Managing Director for Kentucky. Also joining CBRE are Mr. Grove and Mr. Schwartz, who will focus on client service, Bruce Wibbels, Director of Asset Services, as well as CBRE | Louisville’s entire team of brokerage professionals and staff.
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 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 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 CBRE | Louisville 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 CBRE | Louisville with CBRE’s existing operations, 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 CBRE’s SEC filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2013 and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2014. 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.