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CBRE Group, Inc. (NYSE: CBRE) is the world's largest commercial real estate services and investment firm, based on 2023 revenue. A Fortune 500 and S&P 500 company, CBRE is headquartered in Dallas and operates with a global workforce of over 130,000 employees, including Turner & Townsend employees, across more than 100 countries.
CBRE provides a wide range of integrated services, which cater to real estate owners, investors, and occupiers. These services include facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services; and development services.
The company's investment management arm manages over $140 billion for clients with diverse public and private real estate strategies. In addition, CBRE is at the forefront of ESG (Environmental, Social, and Governance) initiatives, leveraging technology to enhance sustainability and operational efficiency in the commercial real estate sector.
One of CBRE's recent significant advancements is its role in the burgeoning electric vehicle (EV) infrastructure market. The company has partnered with EV+, a provider of on-site electric vehicle charging infrastructure solutions, to deploy EV charging systems at 10,000 U.S. commercial properties over the next five years. This initiative addresses the increasing demand for convenient and reliable EV charging stations, promoting sustainable practices in commercial real estate.
CBRE also focuses on technology's impact on real estate, as highlighted during the Property Council of Australia's Technology Summit. The company emphasizes the importance of integrating intelligent building systems and harnessing data analytics to achieve ESG targets and improve property management.
Furthermore, CBRE has formed a strategic alliance with Zimmer Biomet Holdings, Inc. to develop and outfit orthopedic ambulatory surgery centers (ASC) in the U.S. This collaboration aims to combine CBRE's expertise in commercial real estate with Zimmer Biomet's leadership in medical technology to enhance patient care and access to advanced medical facilities.
For the latest updates and more information, visit CBRE's official website at www.cbre.com.
DataBank has successfully closed its initial recapitalization, with a consortium led by Swiss Life and EDF Invest acquiring a 35% interest for approximately $1.5B. This consortium includes other investors like Northleaf Capital Partners and Ardian. The partnership positions DataBank for significant growth in edge infrastructure and is expected to enhance its operational capabilities across U.S. markets, leveraging its extensive data center presence.
CBRE Group, Inc. (NYSE:CBRE) announced the appointment of E.M. Blake Hutcheson to its Board of Directors, effective September 1, 2022. Hutcheson, currently the President and CEO of OMERS, brings extensive investment and real estate experience to CBRE. His previous roles include leadership positions in real estate investment and management. CBRE's Board Chair, Brandon Boze, emphasized the value Hutcheson will add to the company's strategic initiatives. Hutcheson will stand for election at the upcoming Annual Stockholder Meeting in Spring 2023, expanding the board to 11 members.
The CBRE Global Real Estate Income Fund (NYSE: IGR) has declared a monthly distribution of $0.06 per share for August 2022, with an annualized distribution rate of 9.1% based on a market price of $7.92. The declaration date is August 9, 2022, with the payable date set for August 31, 2022.
The Fund has made eight regular distributions totaling $0.46 per share this fiscal year. The estimated source of current and year-to-date distributions includes 30% net investment income and 70% net realized long-term capital gains.
CBRE Group, Inc. (NYSE:CBRE) has secured a new five-year revolving credit agreement, increasing its credit facility from
CBRE Group, Inc. (NYSE:CBRE) reported robust Q2 2022 results, with net income rising by 10% to $487 million and GAAP EPS up 13% to $1.48. Core earnings surged 33%, resulting in a record Core EPS of $1.83, reflecting strong performance across all business segments despite currency challenges. Revenue reached $7.77 billion, marking a 20.3% year-over-year increase. The company’s free cash flow stood at $400 million, and it repurchased 7.5 million shares for approximately $611 million. CBRE’s diversified operations continued to drive growth amid a supportive economic environment.
MainStay CBRE Global Infrastructure Megatrends Fund (NYSE: MEGI) has announced a monthly distribution of $0.1083 per common share for July 2022, reflecting a 6.5% annualized distribution rate based on the $20.00 IPO price. The ex-dividend date is set for July 22, 2022, with a record date of July 25, 2022, and payable date on July 29, 2022. The distribution is primarily sourced from net investment income, accounting for 91% of the distribution. The Fund has a negative total return of -4.77% since inception, indicating performance challenges.
MainStay CBRE Global Infrastructure Megatrends Fund (NYSE: MEGI) will hold a conference call on July 20, 2022, at 4:00 PM ET to discuss portfolio updates and the outlook for the year. Questions for the management team can be submitted by July 18, 2022, at 8:00 PM ET. The Fund also aims to distribute its net investment income to shareholders, but there is no guarantee of regular distributions. Investors are advised to consider inherent risks before investing, including market and operational risks. More details can be found on New York Life Investments website.
The CBRE Global Real Estate Income Fund (NYSE: IGR) announced a monthly distribution of $0.06 per share for July 2022, maintaining a 10.0% annualized distribution rate based on the closing market price of $7.23 on July 5, 2022. The fund has declared total distributions of $0.40 per share year-to-date. The estimated sources for the current distribution include 30% from net investment income and 70% from net realized long-term capital gains. Future distributions may vary based on net investment income and gains, with a quarterly review by the Board of Trustees.
IndexIQ has announced that starting September 1, 2022, the IQ U.S. Real Estate Small Cap ETF (ticker: ROOF) will be renamed to the IQ CBRE NextGen Real Estate ETF. The fund will also shift to track the new IQ CBRE NextGen Real Estate Index. In conjunction with these changes, the management fee will decrease from 0.69% to 0.60%.
The new index aims to provide exposure to U.S. companies benefiting from major economic trends, including Digital Transformation, eCommerce Revolution, and Generational Change.
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