by Brianna Crandall — November 15, 2013—Global outsourcing provider CBRE Group has announced several acquisitions in both the United States and the United Kingdom in recent weeks that will expand the company’s capabilities in providing commercial building technical engineering, residential, property management and healthcare services.
U.S.: CB Richard Ellis Carmody
CBRE Group enhanced its coverage of the rapidly growing southeastern corridor of the United States by the acquisition of CB Richard Ellis Carmody, a Charleston, South Carolina-based commercial real estate services firm that has been an affiliate of CBRE serving the South Carolina coastal markets since 1997. Founded by Brian and Charles Carmody in 1992, the firm has become one of the region’s leading providers of leasing, investment sales, property management, research and consulting services. The firm has a staff of 23 and manages nearly 4 million sq. ft. of commercial property.
The Charleston area has reportedly seen healthy demand for office, logistics and flex space, driven by solid employment growth and the ongoing expansion of the Port of Charleston. The port enables the Charleston market to be an important feeder of business throughout the southeast, says CBRE, thus CB Richard Ellis Carmody has strong synergies with CBRE’s existing offices across the region.
U.S.: KLMK Group
CBRE Group also enhanced its healthcare platform with the acquisition of KLMK Group, a leading provider of facilities consulting, project advisory, and facilities activation solutions to the U.S. healthcare industry. The company, which is based in Richmond, Virginia, serves healthcare systems throughout the United States. KLMK Group will be integrated into CBRE’s Healthcare platform, which provides comprehensive facilities solutions to more than 60 major hospitals and healthcare systems and over 4,500 physician practices throughout North America.
CBRE says that it has been at the forefront of assisting healthcare systems and providers to explore their facilities management and capital spending programs for opportunities to reduce costs, monetize assets, and improve the overall patient experience in this time of dramatic changes in healthcare and rises in healthcare spending. Adding KLMK’s team of consultants to CBRE’s 650 healthcare-focused professionals throughout the United States is intended to enhance CBRE’s ability to provide comprehensive solutions to healthcare owners and assist them in maximizing the performance of their facility portfolios.
U.K.: Norland Managed Services Ltd.
In addition, CBRE entered into a definitive agreement to acquire Norland Managed Services, a leading provider of commercial building technical engineering services to commercial real estate owners and occupiers primarily in the U.K. and Ireland, as well as in the United States and Singapore. Founded in London in 1984, Norland is particularly well known for its expertise in critical environments such as data centers and trading floors. Its 4,000 employees in 14 offices serve more than 300 clients.
CBRE says the acquisition will add market-leading capabilities for the company to self-perform building technical engineering services in its U.K. and European Global Corporate Services (GCS) business, providing its client base with fully integrated outsourcing services in the region. Norland’s existing operations will operate as CBRE | Norland, reflecting the combined strengths of CBRE’s prominent global brand and Norland’s reputation for expertise in building technical engineering services.
U.K.: Alan Selby & Partners
Lastly, CBRE Group 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. Founded in 1974 by Alan Selby, AS has consulted on more than 70 large development projects, and 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.
The acquisition marks another step in the growth of CBRE’s U.K. Residential business, which concentrates on the prime Central London market. CBRE also acquired London-based EA Shaw in late 2012. CBRE’s fast-growing U.K. Residential business 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. CBRE has also begun building 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 U.K. Residential serves a range of clients, including Berkeley Homes, Exemplar, CIT and Barratt Homes.
CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is said to be the world’s largest commercial real estate services and investment firm in terms of 2012 revenue. Excluding affiliates, the company has approximately 37,000 employees and serves real estate owners, investors and occupiers through more than 300 offices 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.
