CommonWealth REIT Retains CBRE Group, Inc. for Major National Property Management Portfolio
23 Junho 2014 - 6:15PM
Business Wire
CBRE to Manage Nearly 43 Million Sq. Ft. in
31 Markets
CBRE Group, Inc. (NYSE:CBG) today announced its appointment to
provide property management services for CommonWealth REIT’s (NYSE:
CWH) 42.9 million-sq.-ft. property portfolio, excluding properties
classified as discontinued operations.
CBRE’s appointment is targeted to take effect on or around
October 1, 2014, subject to CommonWealth REIT’s right to extend the
date. At that time, CBRE will provide property management and other
related services for 156 CommonWealth REIT-owned properties across
31 markets, excluding properties classified as discontinued
operations.
“We are very pleased to engage CBRE as our property management
services provider,” said David Weinberg, Chief Operating Officer,
CommonWealth REIT. “CBRE’s technical expertise and on-the-ground
resources combined with our team’s real estate management expertise
will enhance service delivery for tenants at our properties and
maximize building operating performance across our portfolio. We
believe this relationship aligns the interests of all
stakeholders.”
“This prestigious assignment reflects the strength of our
service offering, most notably our ability to deliver value across
a broad, geographically diverse property portfolio,” said Ed
Schreyer, President, Agency Brokerage and Asset Services, the
Americas, CBRE. “We look forward to working with CommonWealth REIT
on these assets.”
John Greenwood will serve as CBRE’s Strategic Accounts
relationship manager, coordinating the delivery of services for
CommonWealth REIT.
About CommonWealth REIT
CommonWealth REIT (NYSE: CWH) is an internally managed and
self-advised real estate investment trust, which primarily owns
office buildings located in central business districts and suburban
locations across the country, with executive offices in Chicago,
Ill.
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
2013 revenue). The Company has approximately 44,000 employees
(excluding affiliates), and serves real estate owners, investors
and occupiers through approximately 350 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.
CBRE Group, Inc.Robert McGrath,
212-984-8267robert.mcgrath@cbre.comorCorey Mirman,
212-984-6542corey.mirman@cbre.com
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