CBRE Group, Inc. (NYSE:CBG) today announced the acquisition of Alan Selby & Partners (AS), a leading London prime residential development consultancy, sales and leasing agency focused on the London Docklands market, including Canary Wharf, and the City of London.
The acquisition marks another step in the growth of CBRE’s UK residential business, which concentrates on the prime Central London market. This is the second significant residential acquisition for CBRE in London in the last 12 months, led by EMEA Managing Director Martin Samworth. CBRE acquired London-based EA Shaw in late 2012.
AS was founded in 1974 by Alan Selby and with a track record of consulting on more than 70 large development projects, is widely regarded as one of the pioneers of prime residential real estate development in the East End of London. The firm has led several landmark developments that have contributed to the regeneration of London Docklands, including New Providence Wharf, Baltimore Wharf and Pan Peninsula. Most recently, AS has successfully marketed luxury residential apartments in the City of London, including “The Heron,” one of London’s most high profile new residential developments.
CBRE’s fast growing UK residential business, led by Mark Collins and Lisa Hollands, offers a full range of services in the prime segment of the market, including sales, leasing, development consultancy and property management services, as well as development marketing and investment/acquisition capabilities. Over the past two years, CBRE has also built a network of residential experts based in key markets across Europe, the Middle East and Asia to connect foreign buyers with prime opportunities in Central London. CBRE UK Residential serves a range of clients, including Berkeley Homes, Exemplar, CIT and Barratt Homes.
Commenting, Ciaran Bird, CBRE’s UK Managing Director said:
“The acquisition of Alan Selby & Partners highlights CBRE’s continued appetite to invest in our prime residential business as we further build a leadership position in one of the world’s most sought after real estate markets. We would like to welcome Alan Selby and his team to CBRE; their significant experience, reputation and established business platform will strengthen our residential service offering in London for the benefit of our clients globally.”
Mark Collins, Chairman of CBRE’s UK Residential business, commented:
“Following the acquisition of EA Shaw in late 2012, the addition of Alan Selby & Partners to our platform is the next exciting chapter in the growth story of CBRE’s prime residential business in Central London. Alan Selby is regarded as a pioneer of prime residential services in the eastern Central London market and will work closely with Lisa Hollands and myself as CBRE targets further business growth.”
Alan Selby, Senior Partner, Alan Selby & Partners, added:
“We are very proud of our achievements at Alan Selby & Partners and our journey as a business over the years. We have put our clients first at every step along the way and believe that by becoming part of CBRE we can unite our capabilities and reputation in the London market with its global brand and worldwide network. This will enable us to provide the best possible service for clients seeking to take advantage of opportunities in the Central London market.”
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.
“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 Alan Selby & Partners 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 Alan Selby & Partners with CBRE’s existing residential real estate operations in the London market, and the ability to leverage the combined operations to capture a larger share of the prime residential 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, 2012 and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2013. 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 firstname.lastname@example.org.