Press Release

CBRE Group, Inc. To Acquire Leading Project Management Firm In Israel

23 Oct 2019

Quarterly Earnings Press Release Image

CBRE Group, Inc. today announced the acquisition of Yaron Levy Project Management, a leading project management firm serving real estate occupiers and investors in Tel Aviv, Israel.

Founded in 2010 by the collaboration of Chen Yaron and Uri Levy, Yaron Levy Project Management provides office fit-out and industrial project management solutions, serving local and global clients. Yaron Levy Project Mangement will operate as part of CBRE’s Global Workplace Solutions (GWS) business.

This acquisition follows CBRE’s purchases in 2018 of leading Israeli companies, MAN Properties, a real estate advisory firm, and Ramot Group, a facilities management provider. CBRE’s expanded capabilities in the Israeli market will enable the company to serve occupier and investor needs at every stage of the property life cycle.

Ian Entwisle, CEO of CBRE GWS APAC/EMEA, said: “This acquisition adds complementary market-leading project management expertise to our existing capabilities. The Yaron Levy team is highly regarded in the market and we are now in an even stronger position to deliver exceptional outcomes for our clients and to continue building a world-class offering in the region.” 

Chen Yaron and Uri Levy said: "Yaron Levy is honored by this acquisition as it is a recognition of the first-rate service we are providing to our customers. We would like to thank our team and partners along the way for the remarkable achievements. The Yaron Levy team is looking forward to becoming part of the CBRE family and offering new levels of excellence to our Israeli and international clients."

Forward-Looking Statements

Certain of the statements in this release regarding the acquisition of Yaron-Levy Project Management (Yaron-Levy) 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. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, our ability to successfully fully integrate Yaron-Levy with existing capabilities in Israel as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we 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 other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2018 and Form 10-Q for the quarter ended June 30, 2019. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at [email protected]

 
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.