CBRE Announces Expanded Real Estate Accounting Partnership with AEW Capital Management’s Private Equity Group

CBRE has announced an expanded outsourcing agreement with AEW Capital Management ("AEW") to provide real estate accounting and reporting related services to AEW’s North American Private Equity Group, which manages direct private equity investments in core, value-added and opportunistic real estate investments in the U.S.

The agreement will allow AEW to benefit from CBRE's scalable platform, dedicated accounting and reporting real estate expertise, and innovative market-leading technology services. The agreement includes the transfer of approximately 50 AEW employees to CBRE’s office in Boston, MA, allowing for a seamless integration and continuation of exceptional service to AEW and, in turn AEW’s clients.

"AEW has been working with CBRE for a number of years in this capacity and believe this expanded partnership will position our firm to continue to deliver for our investors in the long term and provide scalability to support our continued growth. We selected CBRE for their proven track record in providing comprehensive accounting and reporting services to Real Estate Investment Managers, their considerable investments in technology, and their experience in executing complex migrations," said Jon Martin, CEO of AEW Capital Management.

Jean-Francois Gillard, Global Head of Investment Accounting & Reporting at CBRE, added, "AEW is one of the leading names in commercial real estate, and they have been one of our most valued clients for several years. We look forward to expanding this relationship and establishing a truly strategic long-term partnership.”

As part of this agreement, CBRE will provide AEW with accounting, financial reporting, and property oversight services for approximately $40bn in U.S. commercial real estate investments. As the trend towards outsourcing has gathered momentum among real estate investors in recent years, CBRE has become one of the world’s largest fund administrators providing integrated accounting services to developers, investors, and asset managers in more than 40 countries.