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Case Studies

 

Avalon Walk Apartments Community | CBRE's Capital Markets groups in New York, Washington, D.C., Boston and Atlanta teamed to arrange $124 million sale and $94.86 million financing via in-house Fannie Mae DUS lender. Avalon walk is a premier luxury apartment community, 764 units in 20 three-story buildings located in Hamden, Connecticut.

 

Arranz Acinas Group | CBRE’s Capital Markets groups in Madrid and New York team to arrange acquisition financing of $29.68 million (€20 million) on behalf of Arranz Acinas Group for the purchase of a development parcel at 67-69 Laight Street in New York City ’s Tribeca neighborhood—the company’s first U.S. acquisition.

 

Heron City España S.L. | CBRE Debt & Equity Finance, Retail Investment Property and Valuation teams in Madrid, Spain, collaborate to arrange $146 million (€99.5 million) in financing on behalf of Heron City España S.L. for the purchase of 50% of Heron City Diversia Leisure Center, an entertainment facility in the Municipality of Alcobendas, and the refinancing of its existing 50% ownership stake.

 

Fontaine Business Park | CBRE’s Capital Markets teams in Denver, Colorado, and Columbia, South Carolina, and Investment Properties teams in Charlotte, North Carolina, and Atlanta, Georgia, collaborate to arrange the sale and financing of Fontaine Business Park, a four-building office park in Columbia, on behalf of both the seller, Highwoods Properties, and the buyer—more than 25 tenant-incommon interests managed by U.S. Advisors. Upon completion of the transaction, CBRE was awarded the property management and leasing assignments for the complex.

 

Cost Segregation | With the acquisition of Marshall & Stevens’ Cost Segregation business in December 2006, CBRE now has a team focused on Cost Segregation analysis, led by Doug Haney. In late 2006, the group’s premier valuation capabilities helped generate nearly $163 million in additional tax savings for The Irvine Company.

Caterpillar Logistics | CBRE’s Oak Brook, Chicago and Tokyo offices collaborate to arrange the development and leasing of a 500,000-sq.-ft. build-to-suit distribution facility in Japan on behalf of Caterpillar Logistics.

Tumon Sands Plaza Guam | Owner Tumon Sands Delaware, LLC, engages CB Richard Ellis to assist with the re-development, re-positioning, asset management and marketing of Tumon Sands Plaza as an international luxury retail destination.

Brickell Financial Centre |CBRE’s Miami office coordinates a coast-to-coast team effort to win agency leasing and property management contracts for the Brickell Financial Centre, a 1.5 million-sq.-ft. "green-certified" office/retail/residential/hotel complex under development in Miami’s premier business district. This will be CBRE’s largest management contract in Florida.

Iberdrola | In October 2006, Madrid-based Iberdrola—the largest renewable energy firm in the world—acquired Community Energy, a local company based in Wayne, Pennsylvania. Upon completion of the acquisition, Iberdrola needed to significantly expand its Pennsylvania office to new space that would enable the construction of its signature interior build-out. Fulfilling both requests in a strong demonstration of cross-border collaboration, CBRE skillfully negotiated a 21,692-sq.-ft. U.S. headquarters lease for the company in less than three months.

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WaMu Center | CBRE’s Move Management Services and Facilities Management teams in Ann Arbor and Seattle relocated 5,300 WaMu employees from 12 locations into WaMu Center in Seattle, a 42-story, 1.2-million-sq.-ft. building home to offices, shops and the future expansion of the Seattle Art Museum.

Kansas City Int'l Airport CRCF  | The Consolidated Rental Car Facilities Management Team, led by Managing Director Stan Dowell, was recently selected as the facilities manager for its fourth airport-based Consolidated Rental Car Facility. The Kansas City International Airport (KCI) Consolidated Rental Car Facility (CRCF) is situated on 52 acres and houses the nine major rental car companies that serve the airport.

Real Estate Tax Consulting  | With the acquisition of Trammell Crow Company, CBRE now has a team focused on Real Estate Tax Consulting, led by Keith McIntosh. In September 2006, the group’s best-in-class valuation, financial analysis and strategic property tax capabilities helped generate nearly $500,000 in tax savings for TIAA-CREF.

DIFA | CBRE Latin America & the Caribbean and CBRE Chile advised DIFA on the acquisition and financing of the 257,400-sq.-ft. Birmann 24 Class A office tower in Santiago, Chile. The Birmann 24 transaction not only represents the first acquisition of Chilean investment property by a European fund, but was the largest single asset transaction in Chile in 2006.

Pulte Homes Corporation | CBRE’s Detroit office bests 10 competitors for the transaction management and lease administration business of Pulte Homes Corporation, the nation’s premier new home builder.

MPC Portfolio | The collaboration of CBRE’s Amsterdam, Sydney, London and New York offices results in the largest office portfolio sale ever in The Netherlands. The 1 billion (US$1.3 billion), 100-property Münchmeyer Petersen Capital AG (MPC) portfolio was sold to Breevast and AIG.

DirecTV | CBRE’s Call Center Solutions Group in Phoenix, a specialty unit of Global Corporate Services, along with Grafton Tanquary in CBRE’s office in Torrance, Calif., assisted DirecTV, the leading broadcast satellite provider in the United States, in locating a suitable site for its new Customer Care Center. CBRE also assisted DirecTV in negotiations with city, county and state agencies to secure millions of dollars of incentives and a highly favorable 10-year lease for its new facility.

 

Affinia Group | Collaboration between CBRE professionals in Detroit, Los Angeles and Chicago bests three major competitors to win the transaction management and lease administration services on behalf of Affinia Group Inc., a major global automotive parts supplier.

AT&T St. Louis | CBRE’s Global Corporate Services teamed with the Sale/Leaseback Group, Investment Properties Group, and Brokerage to complete the $205 million sale/leaseback of the 42-story, 1.2-million-sq.-ft. 909 Chestnut in downtown St. Louis, the highest price ever paid for a St. Louis office property.

Corporate Center at Kierland | Investment Properties professionals from Phoenix and South Bay sold the 107,000-sq.-ft. Corporate Center at Kierland in Scottsdale, Arizona for $32.18 million to a joint venture between The Muller Company and BlackRock Realty.

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Hampshire Partners Fund VI, LP | CBRE | Melody secured financing for a $185-million revolving credit facility on behalf of Hampshire Partners Fund VI, L.P. for the repositioning of 17 assets—part of a 2.8 million-sq.-ft. portfolio—and the acquisition of several additional properties in the New York Tri-State Region.

San Carlos Village | CBRE’s Los Angeles, Newport Beach and San Diego offices join forces to sell San Carlos Village, a 128,000-sq.-ft. retail neighborhood shopping center in eastern San Diego, garnering top dollar despite a glaring vacancy in its largest anchor space.

Seyfarth Shaw | Close cooperation between CBRE’s tenant rep and agency leasing groups resulted in a 100,000-sq.-ft. lease at the future home of The New York Times. The transaction was the first lease arranged at the nearly-completed brand new office tower located at 620 Eighth Avenue, on New York City’s West Side.

INVESCO | Beginning with a one-million-sq.-ft. management and leasing relationship with a pension fund client in 1992, CBRE significantly expanded the account to include almost 17 million sq. ft. that today generates between $10 million and $12 million per year in fees for management, leasing, investment sales, valuation and mortgage banking.

Sarofim | Faced with an extremely tight deadline, a team of retail professionals from multiple disciplines in Ohio and California collaborated to present a proposal for management, leasing and redevelopment of an enclosed mall in a suburb of Columbus, Ohio, within five days, winning the business and setting up operations onsite—all within two weeks of the original request.

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Ford Motor Company - Primus | CBRE’s Sale/Leaseback Group and Investment Properties Group teamed with Global Corporate Services, Brokerage and Asset Services to complete a $70 million sale and partial leaseback of the 490,323-sq.-ft. Nashville headquarters complex of Primus, a financing subsidiary of Ford Motor Company, thereby monetizing this asset for Ford and generating substantial occupancy cost savings.

U.S. Foodservice | When U.S. Foodservice needed to re-evaluate its headquarters location in Columbia, Md., CBRE’s Global Corporate Services in Chicago teamed with Investment Properties in Baltimore to provide the leading broad line food service distributor in the United States with a sale/leaseback transaction that benefited its bottom line and opened its eyes to possibilities in other markets.

Crested Butte | Acting on a referral from our Paris offices, CBRE Hotels, working closely with CBRE’s Miami-based Multi-Housing Group, brokered the sale of a Club Med Resort in Crested Butte, Colo., for over 30% more than a previous offer Club Med had received directly. From start to finish, the transaction was completed within two months and closed within 10 calendar days of the signing of a Letter of Intent.

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Centinela Freeman HealthSystem | Centinela Freeman HealthSystem was interested in extracting value out of its hospitals to make their turnaround a success. CB Richard Ellis’ National Healthcare Group facilitated discussions between Centinela Freeman and Medical Properties Trust, resulting in a sale-leaseback of $80 million at 200 basis points below the system’s current financing. This transaction is one of the largest of its kind in the history of Southern California, and will allow Centinela Freeman to focus on its mission and core, caregiving operations.

TIAA-CREF | CB Richard Ellis, working together across multiple real estate disciplines, breaks out of the pack of third-party providers to Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF), ultimately achieving preferred provider status for a broad spectrum of real estate services and leading all other competitors in business volume and ratios.

Villa Dorado Apartments | The San Diego Multi-Housing team led by Kevin Mulhern and Dixie Hall recently brokered the sale of a 668-unit luxury Class-A apartment community in a San Diego suburb, for $182.5 million. Originally developed by JPI Development in 1999, the property was sold by ING Clarion Partners to The Irvine Company.

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Neponset Landing | CBRE-New England and CBRE | Melody team up in the pre-sale and construction financing for Neponset Landing, a 280-unit Class-A apartment community in Quincy, Mass.

Select Comfort | CBRE’s Global Corporate Services team in Minneapolis represented Select Comfort Corporation in relocating and upgrading its corporate headquarters facility into a 160,000-sq.-ft. build-to-suit opportunity in Plymouth, Minn. Select Comfort also engaged the CBRE Project Management Group to ensure a smooth transaction.

Redstone Arsenal | A diverse group of CB Richard Ellis professionals from both coasts joined forces to provide the U.S. Army with a comprehensive leasing program to help it prepare for an influx of 4,000 jobs arriving from closed bases around the country.

Galleria, Inc. | CBRE’s Anaheim office teamed up with the Newport Beach Private Client Group to complete the largest industrial sale transaction in North Orange County in 2006: the disposition of a 281,548-sq.-ft. Class A distribution facility at 4633 East La Palma Avenue in Anaheim, California. The $28.5 million sale-leaseback transaction allowed Galleria, Inc. to centralize and expand its distribution center through the purchase of a newly completed 715,433-sq.-ft. warehouse in Rialto, California.

Duke Realty Corporation | CBRE’s Chicago Global Corporate Services team brought together three independent parties—Trustmark, which owned six acres in a Class A corporate park in Lake Forest, Illinois; Duke Realty Corporation, which was proposing a new speculative office building on the same six acres; and Hospira, a tenant in need of consolidation space. The end result was a land sale, a new Class A office development, and a 138,000-sq.-ft. lease transaction within the North Suburban office market.

Cardinal Health, Inc. | CBRE’s Global Corporate Services teams in Columbus and San Diego jointly arranged one of the largest lease transactions in San Diego history on behalf of Cardinal Health, Inc.

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Wakefern Food Corporation | CB Richard Ellis arranged a 1.1 million-sq.-ft. industrial build-to-suit transaction for Wakefern Food Corporation in the Lehigh Valley. The lease, which is ten times larger than the average industrial real estate lease, is for a new food distribution center that Liberty Property Trust will develop in the Upper Macungie Boulder Business Center.

Fila | CBRE’s Sale/Leaseback Group combined with Investment Properties to complete the $26 million sale/leaseback of Fila’s 380,000-sq.-ft. distribution facility in Baltimore at a sub-7% cap rate, despite below-investment-grade credit on the lease and rapidly rising interest rates.

GMAC Financial Services | CBRE’s Philadelphia and Chicago offices arranged a 12-year, 450,000-sq.-ft., build-to-suit office lease on behalf of GMAC Financial Services at 1100 Virginia Drive in Philadelphia’s Fort Washington Business Center. The project includes management of the facility, as well as conversion of the current Fort Washington Expo Center into class A office space.

Glen Town Center | An introductory meeting at ICSC in Palm Springs turned into a private jet flight to Glenview, IL, and expanded a business relationship with OliverMcMillan, netting not only the leasing and management of a 469,000-sq.-ft. lifestyle center in Glenview, but other assignments across the country thanks to the combined efforts of CBRE’s Ontario, Cleveland and Chicago offices.

Holiday Isle Beach Resorts | CBRE’s Dallas leasing office teamed with the Washington, D.C. office and the Project Management Group to win prominent law firm Thompson & Knight’s 180,000-sq.-ft. relocation assignment.

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Mark Winkler Company | The Washington, D.C. and Baltimore Multi-Housing Groups teamed to represent the Mark Winkler Company in the $900 million sale of its 12-property residential portfolio consisting of over 5,000 units in Northern Virginia.

The Ashton | CBRE’s Houston, Dallas, Miami and Ontario offices combined forces to create a national team to sell The Ashton, a trophy residential property located in the premier Uptown area of Dallas. The $104 million sale achieved the highest ever price per unit and per-sq.-ft. for any multi-family offering in Dallas.

Fortune Brands - Beam | In CBRE's largest suburban Chicago office lease transaction of 2005, the Global Corporate Services team represented Fortune Brands and its biggest subsidiary, Beam Global Spirits & Wine, in its world headquarters consolidation of 165,000 sq. ft. in Deerfield, Illinois.

The Flamingo South Beach | CBRE’s Miami and Phoenix offices teamed up to complete the $163.5 million sale of The Flamingo South Beach, a 1,688-unit luxury waterfront apartment community in Miami Beach, Florida, on behalf of AIMCO.

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Newland Communities | CBRE’s Houston Galleria office won an exclusive assignment on behalf of Newland Communities, the largest master-planned community developer in the United States. The Houston office teamed with the San Diego Investment Properties | Institutional Group to market Newland’s 112 acres of commercial reserves at its Telfair community in Sugar Land, Texas, located 15 miles southwest of Houston.

Two Washington Center | In December 2005, CBRE’s Washington, DC, Phoenix and Dublin offices teamed up to complete the sale of the 100% leased Two Washingtonian Center, a 288,000-sq.-ft. office building in Gaithersburg, Maryland, on behalf of GLL Real Estate Partners.

HealthNow New York | CBRE’s Buffalo office was chosen as the exclusive tenant representative for HealthNow New York, the parent of BlueCross BlueShield of Western New York, in a 1.0 million-sq.-ft. corporate headquarters relocation assignment that would become the largest Downtown Buffalo office development in over 45 years.

Kendle International, Inc. | CBRE’s Chicago office teamed with the Cincinnati office and Consulting Group in Atlanta to win an exclusive assignment on behalf of Kendle International, Inc., a leading global clinical research organization. Kendle selected CBRE to evaluate its world headquarters location in downtown Cincinnati, consisting of two leaseholds totaling 132,153 sq. ft.

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Thompson & Knight | CBRE’s Dallas leasing office teamed with the Washington, D.C. office and the Project Management Group to win prominent law firm Thompson & Knight’s 180,000-sq.-ft. relocation assignment.

The Pavilion | The Washington-Baltimore Multi-Housing Team combined forces with CBRE | Melody during the sale of The Pavilion, a 432-unit high-rise condominium conversion in the heart of the popular Maryland suburb of Rockville.

Garden City Group | CBRE’s Columbus, Ohio, office teamed with Global Corporate Services to arrange a 52,000-sq.-ft. office lease at 5151 Blazer Parkway in Dublin, Ohio, on behalf of Garden City Group, Inc., a third-party bankruptcy management firm.

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Bimbo Bakeries | By collaborating with the Industrial Group, the Portfolio Management Group, the Consulting Group and the Food Facilities Group, CB Richard Ellis’ Dallas office was selected as Bimbo Bakeries’ exclusive real estate services provider for its 5 million-sq.-ft., 475-property portfolio.

Westmoor Technology Park | CB Richard Ellis’ Denver office teamed up with the Strategic Accounts Group, the Investment Properties – Institutional Group and members of senior management to win the disposition, leasing and management of Westmoor Technology Park, a 1.3 million-square-foot office campus in northwest Denver.

The Gap - Harford County | CB Richard Ellis' Industrial Services and Investment Properties together won the disposal of The Gap, Inc.’s 602,250-sq.-ft. distribution facility in Harford County, Maryland.

Painted Rock | The CBRE Land Services Group arranged a multiple-party land and water rights transaction at 575 Painted Rock Road in Reno, Nevada, involving a governmental water authority, a private developer and a local ranch family. This transaction served to alleviate a water shortage that had hindered Northern Nevada development and stabilize the water market.

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Quick Clicks:
  • Brickell Financial Centre
  • Bimbo Bakeries
  • Cardinal Health
  • Caterpillar Logistics
  • Centinela Freeman HealthSystem
  • Corporate Center at Kierland
  • Cost Segregation
  • Crested Butte
  • DIFA
  • DirecTV
  • Duke Realty
  • Fila
  • The Flamingo South Beach
  • Fontaine Business Park
  • Ford Motor Company - Primus
  • Fortune Brands - Beam 
  • The Gap - Harford County
  • Galleria, Inc. 
  • Garden City Group
  • GMAC Financial Services
  • Glen Town Center
  • Hampshire Partners Fund VI, LP
  • HealthNow New York
  • Heron City Espana S.L.
  • Holiday Isle Beach Resorts
  • Iberdrola
  • INVESCO
  • Kansas City Int'l Airport CRCF
  • Kendle International Inc. 
  • Mark Winkler Company
  • MPC Portfolio
  • Neponset Landing
  • Newland Communities
  • Painted Rock
  • The Pavilion
  • Pulte Homes Corporation
  • Real Estate Tax Consulting
  • Redstone Arsenal
  • San Carlos Village
  • Sarofim
  • Select Comfort
  • Seyfarth Shaw
  • TIAA-CREF
  • Thompson & Knight
  • Two Washington Center
  • Tumon Sands Plaza Guam
  • U.S. Foodservice
  • Villa Dorado Apartments
  • Wakefern Food Corporation
  • WaMu Center
  • Westmoor Technology Park
  • Last Modified: Wednesday, September 09, 2009   
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