(The following press release from CBRE was received by e-mail. It was not
confirmed by the sender.)
CBRE GROUP, INC. ACQUIRES EA SHAW
Acquisition of Specialist London Property Consultancy Expands CBRE's
Presence in the City’s Commercial Property Market and
Significantly Enhances its Residential Capabilities in London
London, 20 November, 2012 – CBRE Group, Inc. (NYSE: CBG), a leading global
commercial real estate services and investment firm, today announced the
acquisition of EA Shaw, an independent commercial and residential property
partnership which specialises in central London.
Founded in 1899, EA Shaw provides commercial and residential investment,
management, asset management and leasing services to clients including
Shaftesbury PLC, Soho Estates, Scottish Widows Investment Partnership and Legal
& General. Earlier this year, EA Shaw was named London Property Advisor of the
Year by Estates Gazette for the fifth time in six years.
EA Shaw will become part of CBRE’s Central London business under the leadership
of Adam Hetherington and will continue to operate from its office in Covent
Garden. Through the transaction, CBRE brings on board an established team of
commercial real estate professionals in London’s Midtown and South Bank areas,
including Nick Bark, Head of Management, and Charlie Killen, Head of
Commercial. The EA Shaw professionals complement CBRE’s market-leading position
in the West End, City and East London markets.
During the first nine months of 2012, CBRE was the most active capital markets
advisor in the UK and central London, according to CoStar, and the top office
leasing agent in London in Q3 2012, according to Estates Gazette.
The acquisition also significantly enhances CBRE’s fast-growing central London
residential business, which will now offer a full range of services in the
prime and super-prime segments of the market, including lettings, development
consultancy and property management services. The transaction also boosts
CBRE’s existing development marketing and sales/acquisition capabilities.
Over the past two years, CBRE has built a network of residential experts based
in key markets across Europe and Asia focused on promoting super prime
opportunities in central London. CBRE Residential already serves a range of
clients including Berkeley Homes, Exemplar, CIT and Barratts.
CBRE’s Mark Collins will become Chairman of the combined residential business
with EA Shaw’s Lisa Hollands serving as Managing Director, and CBRE’s Chris
Lacey continuing as Head of Residential Funding & Investment. The enlarged
residential team will operate from both EA Shaw’s existing Covent Garden
offices and CBRE’s Henrietta House base in the West End.
Michael Strong, Chairman & CEO of Europe, Middle East and Africa, CBRE, said:
“We are committed to continually investing in our business with a focus on
improving our offer to clients. London is one of the most important real estate
markets globally and extending our leadership position to new segments of the
city enhances our ability to respond to client requirements. EA Shaw is an
ideal partner for us; our combined commercial and residential offerings provide
another significant dimension to our London and international capabilities.”
Adam Hetherington, Managing Director, Central London, CBRE commented:
“The combination of EA Shaw and CBRE creates a formidable force in the central
London market with a unique capability to provide advice across both the
residential and commercial sectors. EA Shaw is highly regarded in the
residential market, and alongside their strength in development marketing, they
bring a highly skilled lettings, management and second-hand sales/acquisitions
services team to CBRE.”
EA Shaw’s Charlie Killen added:
“We are exceptionally proud of our achievements at EA Shaw. By aligning our
specialist expertise and intensive market knowledge with CBRE’s broad-ranging
capabilities and truly global reach, we will be able to provide our current and
future clients with the best possible service. We believe this transaction
creates a powerful proposition for those seeking to promote or access
opportunities in the central London market. In particular, the prospects for
furthering our commercial real estate business and building a sizeable
residential team together serving the cross-border prime and super-prime
markets are incredibly exciting.”
This is the second investment CBRE has made in the UK this year, following the
acquisition of Franc Warwick in September.
For further information, please contact:
Maria Raimundo, FTI Rachel Garstang,
+44 207 269 9350 +44 207 182 3187
email@example.com firstname.lastname@example.org /
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in
Los Angeles, is the world’s largest commercial real estate services firm (in
terms of 2011 revenue). The Company has approximately 34,000 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.
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