JLL Squeezes Out a Profit in Q1
April 27, 2010
Tweet Jones Lang LaSalle (JLL: 89.03 0.00%) posted earnings this afternoon and they managed to squeeze out a small profit in a continuing sign of stability in the brokerage business. The company reported a profit of $200,000, which although paltry, is a vast improvement from the $60M loss they posted a year ago for the [...]
Read More >>Sobrato Nabs McAfee for 240K SF and What It Means For The Market
April 2, 2010
Tweet Sobrato has managed to bag McAfee for ~240K square feet – and potentially more – at its Santa Clara campus. The Registry has some info on the deal as well. The deal is a great one for Sobrato, which has Yahoo! on lease until the end of July. The buildings are located at 2811 [...]
Read More >>CBRE Selling State of California Buildings For .08% Fee
December 18, 2009
Tweet The numbers speak for themselves. The six groups vying to handle the massive sale-leaseback transaction for the State of California were: CBRE, HFF, Eastdil Secured, Jones Lang LaSalle, Cushman & Wakefield, and The Palmer Team. The winning bidder was CBRE, whose bid was .08%. That’s right, one-twelfth of 1%. And they weren’t even the cheapest! [...]
Read More >>State of California Offloading Buildings To Fill Budget Shortfalls – What A Disaster
December 11, 2009
Tweet As economic pressures mount, the The State of California has retained CB Richard Ellis to sell off 17 of our buildings. The portfolio represents around 8 million square feet. The buildings include the Elihu M Harris building in Oakland, the Earl Warren building in San Francisco, and the PUC building in San Francisco. I’m [...]
Read More >>CBRE Earnings Off 70% YoY; Revenue Per Transaction Flattening Out
October 29, 2009
Tweet CB Richard Ellis (CBG: 22.81 0.00%) released earnings and the numbers came in at $12M, down from $40M from the same period a year ago. More importantly, the revenues at the firm came in at about $1B, down some 20%+ from last year’s $1.3B. On the earnings call, CBRE is indicating that the revenue [...]
Read More >>RREEF Outsources Property Management to CBRE, Transwestern
September 20, 2009
Tweet It is being reported that RREEF has made the decision to outsource property management of its portfolio. CBRE and Transwestern will be taking over the property management of the portfolio – which is estimated at $25B. Despite this being a huge assignment and big news, it is only being reported by The Registry so [...]
Read More >>CBRE: There Are Virtually No Real AAA Bonds
June 12, 2009
Tweet CBRE put out a capital markets presentation outlining where we’ve been, how we crashed, and where we are today. The conclusion drawn is that investing in distressed debt yields higher returns with less risk, mainly because the perceived risk to prices is still great. ….and the rest of it reads like an obituary, that [...]
Read More >>Bloomberg Interviews NY CBRE Broker
June 8, 2009
Tweet Bloomberg interviewed a top CBRE broker out of NYC today, and the interview is below. Nothing most of the readers here haven’t known, but just some reinforcement from a source just perhaps a bit more credible than some “faceless blog” Also, is it just me or does the show’s host look like Avigdor Lieberman?
Read More >>CBRE Gets Reprieve as Lender’s Modify Loan Terms
March 24, 2009
Tweet CB Richard Ellis (CBG: 22.81 0.00%) today announced that it has reached an agreement with its lenders to modify the terms of its debt. This is important for the company since violation of its debt covenants could put the company into Default and lead to a bankruptcy. It seems the company has bought itself [...]
Read More >>The WSJ on CB Richard Ellis and Its Debt
February 18, 2009
Tweet Seems the media is starting to question the financial viability of brokerage houses. The WSJ has written up an article discussing CBRE’s debt load and the mounting concern about how it is going to deal with that debt. The irony is that much of the debt arises from its acquisition of Trammell Crow, an [...]
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