CBRE GROUP, INC. - CBRE STOCK NEWS

CBRE Group has announced a definitive agreement to acquire Industrious National Management Company, a flexible workplace solutions provider, and create a new business segment called Building Operations & Experience (BOE). CBRE will acquire the remaining equity stake for approximately $400 million, reflecting an enterprise valuation of about $800 million. The company already holds a 40% equity interest and a $100 million convertible note in Industrious.

The new BOE segment, which will generate approximately $20 billion in combined revenue in 2024, will be led by Industrious CEO Jamie Hodari. Since 2021, Industrious has shown impressive growth with revenue increasing at a compound annual rate of over 50%, expanding to more than 200 units across 65+ cities. The transaction is expected to close this month and be immediately accretive to 2025 core EBITDA and free cash flow.

CBRE Global Real Estate Income Fund (NYSE: IGR) has declared monthly distributions of $0.06 per share for January, February, and March 2025, totaling $0.18 per share. The Fund's current annualized distribution rate is 14.6% based on the closing market price of $4.92 and 14.5% based on NAV of $4.98 as of January 8, 2025.

The Fund's distribution sources for the period from January to March 2025 are estimated as: 13% from net investment income, 1% from net realized short-term capital gains, 3% from net realized long-term capital gains, and 83% from return of capital. The Fund's cumulative total return for 2024 was -6.50%, with an average annual total return of 1.52% for the five-year period from 2020 to 2024.

The portfolio management team will host an online webinar on February 11, 2025, at 4:00 p.m. ET to provide updates on the portfolio, market conditions, and outlook.

CBRE Group (NYSE: CBRE) has announced its upcoming fourth quarter and full-year 2024 financial results release, scheduled for February 13, 2025, at approximately 6:55 a.m. Eastern time. The company will host a conference call at 8:30 a.m. Eastern time on the same day to discuss the results.

The event will be accessible through a live webcast on CBRE's Investor Relations website, featuring a supplemental slide presentation. A telephone replay will be available for one week following the event, while the webcast replay will remain accessible for 12 months.

CBRE, headquartered in Dallas, is the world's largest commercial real estate services and investment firm based on 2023 revenue. The company employs over 130,000 people across more than 100 countries, offering integrated services including facilities management, property management, investment management, and development services.

CBRE Group (NYSE:CBRE) has completed the combination of its project management business with Turner & Townsend, its majority-owned subsidiary. Vincent Clancy, Turner & Townsend's Board chair and CEO, has joined CBRE's Board of Directors. Under Clancy's 15-year leadership, Turner & Townsend's revenue grew from $225 million in 2008 to over $1.9 billion in 2023.

CBRE now owns 70% of the combined Turner & Townsend/CBRE Project Management business. Since CBRE's majority acquisition in November 2021, Turner & Townsend's revenue has increased at a compound annual rate exceeding 20%. Starting this year, CBRE will report Project Management results as a standalone business segment for increased investor transparency.

NYLI CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) has declared its monthly distribution of $0.1250 per common share for December 2024. The Fund's current annualized distribution rate is 11.30% based on the closing price of $13.28 and 10.16% based on NAV of $14.77 as of December 11, 2024.

The distribution sources include: 80% from net investment income ($0.1001), 20% from net realized short-term capital gains ($0.0249), and 0% from long-term capital gains. The Fund's performance metrics show an average annual total return of -0.75% since inception, with a cumulative total return of 6.66% for the fiscal period ending November 30, 2024.

CBRE Group (NYSE: CBRE) has announced that Chair & CEO Bob Sulentic will participate in a fireside chat at the Goldman Sachs Financial Services Conference on Wednesday, December 11, 2024, at 8 am Eastern time. The presentation will be accessible via live audio webcast on CBRE's website, with a replay available for 90 days afterward.

As the world's largest commercial real estate services and investment firm based on 2023 revenue, CBRE employs over 130,000 people across more than 100 countries. The company provides comprehensive services including facilities management, property management, investment management, and strategic consulting.

CBRE Group (NYSE:CBRE) has announced the appointment of Adam Gallistel and Andy Glanzman as Co-CEOs of CBRE Investment Management. Gallistel, joining from GIC where he serves as Head of Americas Real Estate and Global Real Estate Credit, will be Co-CEO and Chief Investment Officer, focusing on investment strategy and investor engagement. Glanzman, who has been with CBRE Investment Management since 2010, will serve as Co-CEO and President, overseeing business strategy and operations.

Gallistel will join on April 1, 2025, bringing extensive experience in real assets investment, particularly in next-generation growth sectors like data centers. Glanzman has been credited with helping the business navigate recent market challenges since becoming President in January 2022.

Kao Data has appointed CBRE Group (NYSE:CBRE) as its new integrated facilities management partner to support its European platform expansion. CBRE will manage complete facilities services across Kao Data's data centre estate, including London locations and the upcoming Greater Manchester facility. The scope includes maintenance of electrical systems, cooling systems, security, and cleaning services. CBRE will implement its Critical Environments Risk Management program to reduce risks and maintain Kao Data's 100% customer uptime record. The partnership begins December 1st, 2024, aiming to strengthen Kao Data's reputation in delivering data centres engineered for AI with high standards of operational excellence.

Gateway Fiber has secured an additional $75 million in debt financing, bringing its total debt financing to $250 million for the year. The funding, arranged by Texas Capital alongside JPMorgan Chase Bank, Third Coast Bank, and CIBC, will support the company's fiber network expansion through 2025 in Missouri, Minnesota, and Massachusetts. With backing from equity sponsor CBRE Investment Management, Gateway Fiber aims to strengthen its position in residential and commercial fiber internet markets while maintaining service quality.