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CBRE Group, Inc. Announces First Quarter 2013 Earnings Conference Call and Webcast

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CBRE Group, Inc. Announces First Quarter 2013 Earnings Conference Call and Webcast

LOS ANGELES–(BUSINESS WIRE)– CBRE Group, Inc. (NYS: CBG) will release its first quarter 2013 financial results shortly after the 4 p.m. Eastern time market close on Thursday, April 25, 2013. Management will hold a conference call to discuss results at 5 p.m. Eastern time on that same day (Thursday, April 25, 2013).

The call will be webcast and accessible through the Investor Relations section of the Company’s Web site at www.cbre.com, along with a supplementary slide presentation.

Dial-in details are listed below:

  • Live: 800.230.1085 or 612.288.0340
  • Replay: 800.475.6701 or 320.365.3844 – Pass Code #288243 beginning at 10 p.m. Eastern Time

The telephone replay will be available for one week following the event, and the webcast replay and the slides will be available for three months thereafter.

About CBRE Group, Inc.

CBRE Group, Inc. (NYS: 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 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 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.
Gil Borok
Chief Financial Officer
310-405-8909
or
Nick Kormeluk
Investor Relations
949-809-4308
or
Steve Iaco
Corporate Communications
212-984-6535

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

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From: http://www.dailyfinance.com/2013/04/18/cbre-group-inc-announces-first-quarter-2013-earnin/

Business, Finance, Occupation & Industry

CBRE Group, Inc. Announces Completion of Debt Refinancing Activities

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CBRE Group, Inc. Announces Completion of Debt Refinancing Activities

Total Debt to Decrease by Nearly $500 Million and Interest Expense to Decline by Approximately $50 Million; $1.2 Billion Revolver Established

LOS ANGELES–(BUSINESS WIRE)– CBRE Group, Inc. (NYS: CBG) today announced that it has refinanced its existing credit facilities by amending and restating its senior secured credit agreement, which now provides for a $715 million term loan facility and a $1.2 billion revolving credit facility.

This refinancing, coupled with the $800 million of 10-year senior unsecured notes issued earlier this month and cash on hand, has enabled the Company to replace the majority of its indebtedness with new indebtedness at lower interest rates, shift certain indebtedness from floating rate to fixed rate, extend maturity dates, and reduce overall indebtedness.

“Our refinancing activities have positioned CBRE for further growth,” said Robert Sulentic, the Company’s chief executive officer. “Our balance sheet is well structured to support our growth initiatives while also providing us the flexibility to navigate a continued uncertain market environment.”

Among the Company’s plans is to pay down its $450 million, 11.625% senior subordinated notes in June 2013. Following all of its refinancing actions, CBRE will have lowered its total corporate indebtedness by nearly $500 million. On a pro forma basis, CBRE would have reduced its annual interest expense by approximately $50 million in 2012, and its total indebtedness, net of cash, would have been approximately 1.8 times trailing 12-month Earnings Before Interest Taxes Depreciation and Amortization (EBITDA)1, excluding selected charges2, at December 31, 2012.

The new senior secured credit agreement includes a 5-year, $500 million term loan A facility (of which $300 million is on a delayed-draw basis up to 120 days from closing), at an initial interest rate of LIBOR+200 basis points, and an 8-year, $215 million term loan B facility, at an interest rate of LIBOR+275 basis points. The borrowing capacity under the Company’s 5-year, revolving credit facility has been increased to $1.2 billion from $700 million. At closing, minimal incremental borrowings will be drawn on this facility, which will have an initial interest rate of LIBOR+200 basis points.

About CBRE Group, Inc.

CBRE Group, Inc. (NYS: CBG) , a Fortune 500 and S&P 500 company headquartered …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

CBRE Group, Inc. Acquires IMPACT-CORTI

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CBRE Group, Inc. Acquires IMPACT-CORTI

Acquisition of Property Management Specialist Expands CBRE’s Capabilities in Central Europe

LOS ANGELES–(BUSINESS WIRE)– CBRE Group, Inc. (NYS: CBG) , a leading global commercial real estate services and investment firms, today announced the acquisition of IMPACT-CORTI a.s., a firm specialising in property management in the Czech Republic and Slovakia.

With six million sq ft (557,000 sq m) under management across 140 assets and current annual revenue of approximately $10 million, IMPACT-CORTI is the leading property manager in the Czech Republic and Slovakia. The company is particularly known for its expertise in the office sector but also has a portfolio of residential and industrial assets under management. In addition, IMPACT-CORTI provides project management, investment, and leasing and consultancy expertise to its institutional and private-investor clients, such as Deka, Axa REIM, Pramerica and Hampshire Investments. In the Czech capital of Prague, IMPACT-CORTI manages notable buildings including The GEMINI Business Center, LIGHTHOUSE Waterfront Towers and the Burzovni Palac, the home of the Prague Stock Exchange.

IMPACT-CORTI’s team of 160 professionals will join CBRE‘s well-established Property and Asset Management practice in Europe. In response to client demand, CBRE has particularly focused on the growth of these services in Central and Eastern Europe (CEE), underlined by its acquisition of Euro Mall Center Management, a CEE shopping centre management specialist, in mid-2011.

Michael Strong, Executive Chairman of Europe, Middle East and Africa, CBRE, said:

“Providing expert and integrated transactional and real estate management capabilities is becoming increasingly important to our regional and global client base. The acquisition of IMPACT-CORTI complements our existing property management offer and will allow us to further extend this important service across the region to meet growing demand.”

Andreas Ridder, Chairman, Central and Eastern Europe, CBRE, added:

“IMPACT-CORTI is renowned in the Czech Republic for its expert property management and project management practices. By adding their expertise and reach to our own growing capabilities, we are increasing the scope of the services we can provide to clients across the region.”

Jürg Zwahlen, Chairman of the Board, IMPACT-CORTI, commented:

“By joining CBRE, we are creating a huge opportunity for both our clients and our colleagues. As part of one of the most integrated and respected commercial real estate advisory companies in the world, we will be able to better …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

CBRE Group, Inc. Captures Top Honors in Fortune and Lipsey Surveys

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CBRE Group, Inc. Captures Top Honors in Fortune and Lipsey Surveys

Company is Highest-Ranked Commercial Real Estate Services and Investment Company Among Fortune’s Most Admired Companies for Third Straight Year & Lipsey’s Top Commercial Real Estate Brand for 12th Year in a Row

LOS ANGELES–(BUSINESS WIRE)– CBRE Group, Inc. (NYS: CBG) was the highest-ranked commercial real estate services and investment company in Fortune’s annual Most Admired Companies list for the third consecutive year and the number one commercial real estate brand in Lipsey Company‘s annual brand survey for the 12th consecutive year. These accolades underscore CBRE‘s position as the commercial real estate industry’s leading services and investment firm.

“CBRE‘s inclusion in Fortune’s Most Admired Companies list and our top ranking in the Lipsey survey reflect the trust that our clients place in us to deliver exceptional service and innovative solutions every day,” said Robert Sulentic, president and chief executive officer of CBRE.

The Fortune Most Admired program, one of the most definitive report cards on corporate reputation, rates companies on a host of attributes related to corporate performance. CBRE scored particularly well in quality of services, innovation, global competitiveness and social responsibility among companies in the real estate sector. Drawing from a base of some 1400 companies, a total of 687 companies from 30 countries were surveyed by Fortune. Only companies that score in the top half of their industry survey were included in the Most Admired Companies roster.

The Lipsey survey measures commercial real estate professionals’ perceptions of the industry’s leading brands. More than 100,000 U.S. and international professionals participated in the 2013 survey, including property owners, investors, lenders, occupiers, brokers and property managers. CBRE has been ranked number one every year that Lipsey, a training and professional development firm specializing in commercial real estate, has conducted its survey.


About CBRE Group, Inc.

CBRE Group, Inc. (NYS: 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 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE …read more
Source: FULL ARTICLE at DailyFinance