CBRE GROUP, INC. - CBRE STOCK NEWS

MainStay CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) has scheduled a portfolio manager update webinar for Thursday, July 18, 2024, at 4:00 PM ET. The session will feature insights from Jeremy Anagnos, Principal and CIO, and David Leggette, Lead Product Strategist.

Participants can register online and submit questions in advance. The Fund, a closed-end entity traded on the NYSE, focuses on income-producing equity securities from infrastructure companies. Key risks include new fund risk, no operating history, and market discount risk. Investors are advised to review the Fund’s detailed prospectus for a comprehensive understanding of associated risks and investment objectives.

CBRE Group (NYSE: CBRE) will release its second quarter 2024 financial results on July 25, 2024, at approximately 6:55 a.m. Eastern time.

A conference call to discuss these results will take place at 8:30 a.m. Eastern time on the same day. The event will be webcast live and accessible through CBRE's Investor Relations section on their website.

Additionally, a supplemental slide presentation will be available online. Details for the live and replay dial-in for the conference call are provided, with the replay available for a week and the webcast replay for 12 months.

CBRE Group is a leading global commercial real estate services firm, with over 130,000 employees serving clients in more than 100 countries.

On June 26, 2024, CBRE Group (NYSE: CBRE) announced an agreement with Climate X to enhance climate risk assessment capabilities for property investors and occupiers. This collaboration aims to provide comprehensive climate risk data, facilitating better sustainability planning, reporting, and decision-making. Climate X's platform will help CBRE translate climate risk scenarios into actionable insights, enabling clients to evaluate locations and identify potential threats like coastal flooding, drought, and wildfires.

CBRE's Chief Sustainability Officer, Rob Bernard, emphasized the importance of simplifying climate risk assessments and decarbonization strategies. Climate X's advanced data analytics will help calculate capital expenditure requirements and ROI for retrofits and acquisitions, improving clients' adaptation and resilience.

CBRE continues to focus on climate risk and its potential impact on client portfolios globally. As the world's largest commercial real estate services firm, CBRE employs over 115,000 people and offers a comprehensive suite of services.

In a major collaboration, Spark GHC and Cleveland Construction announced Project Scarlet, a $100+ million mixed-use development in downtown Cleveland. The project will transform the historic 400,000-square-foot Rose Building, formerly Medical Mutual's headquarters, into a boutique hotel, modern multifamily apartments, and unique ground-floor retail space. The initiative aims to enhance downtown Cleveland's vibrancy and livability.

Key players include CBRE's brokers, Jamie Dunford and Kevin Yates, who played a important role in the project's negotiations. This venture exemplifies how strategic partnerships can drive urban renewal and community-focused developments. The project aspires to honor Cleveland's heritage while fostering future growth and prosperity.

HAGAG Development Europe and CBRE Romania have signed an exclusive agreement to position Bucharest's H Știrbei Palace as a premier luxury shopping destination. The luxury goods market in Romania is projected to generate EUR 535.82 million in 2024, with a notable 13.8% from online sales. H Știrbei Palace, a historical monument on Calea Victoriei, is undergoing extensive renovations to become a luxury shopping gallery by mid-2025. CBRE Romania aims to attract high-end retailers, contributing to the city's development as a key shopping hub. The collaboration highlights the growing potential of Romania's retail sector, bolstered by new real estate projects and rising prime rents.

CBRE Group (NYSE: CBRE) will combine its Project Management business with its majority-owned subsidiary, Turner & Townsend. CBRE will hold 70% ownership of the new entity, with the remaining 30% held by Turner & Townsend partners. Since acquiring a 60% stake in 2021, Turner & Townsend has experienced a compound revenue growth rate of over 20%. The combined entity is expected to generate net revenue of approximately $3 billion in 2023, with a 15% profit margin. CBRE estimates that the merger will result in $0.15 of incremental core EPS by 2027 from net synergies. The combined entity will be led by Vincent Clancy, Turner & Townsend's CEO. The transaction is anticipated to close around year-end, pending regulatory approvals and consultations.

Guardian Capital Partners has sold its portfolio company, Direct Line Global, to CBRE Group, the world's largest commercial real estate services and investment firm. Although the terms of the transaction remain undisclosed, Direct Line, based in Fremont, CA, specializes in technology infrastructure services for major data centers. With over 1,000 skilled technicians, the company serves markets across the US and Asia Pacific. The acquisition aims to bolster CBRE’s data center lifecycle services, including design, installation, maintenance, and technology upgrades. Both companies express optimism about the future growth and demand for data center services.

CBRE Group, a leading global commercial real estate services firm, has been named to Forbes' Net Zero Leaders list for the second consecutive year. This recognition ranks 100 U.S. companies focused on reducing greenhouse-gas emissions and achieving net zero status. CBRE's efforts span its operations, managed properties, and supply chain. The company has committed to net zero carbon emissions by 2040. This accolade reflects CBRE's financial strength and resilience. Chief Sustainability Officer Rob Bernard emphasized the company's ongoing efforts and commitment to sustainability, as detailed in their 2023 Corporate Responsibility Report.

CBRE Group announced its acquisition of Direct Line Global, a leading provider of data center infrastructure services for major technology companies. The acquisition is expected to enhance CBRE's earnings-per-share immediately and bolster its data center capabilities. Direct Line Global offers design, installation, and maintenance solutions, primarily in the U.S., and has significant operations in both the U.S. and Asia. The acquisition is seen as beneficial due to the growing demand for data and AI. Direct Line Global will operate under CBRE’s Data Centers Solutions business.