October 23, 2016 2:35 AM ET

Real Estate Management and Development

Company Overview of CBRE Services, Inc.

Company Overview

CB Richard Ellis Services, Inc. (CBRE) is a real estate services firm that caters to real estate owners, investors, and occupiers. The company offers property sales, leasing and management, corporate services, facilities and project management, mortgage banking, investment management, capital markets, appraisal and valuation, research, and consultancy services. The company was founded in 1906 and is headquartered in Los Angeles, California with more that 250 offices in countries, including Asia, Australia, Canada, Europe, Latin America, and United States. CBRE operates as a subsidiary of CBRE Holding, Inc.

11150 Santa Monica Boulevard

Suite 1600

Los Angeles, CA 90025

United States

Founded in 1906

9,600 Employees





Key Executives for CBRE Services, Inc.

Senior Vice President
Age: 66
Senior Vice President
Senior Vice President
Compensation as of Fiscal Year 2016.

CBRE Services, Inc. Key Developments

CBRE Services, Inc. Enters into Second Amended and Restated Credit Agreement

On March 21, 2016, CBRE Services, Inc. and Credit Suisse AG entered into a Second Amendment to the Second Amended and Restated Credit Agreement, dated as of January 9, 2015 to which they are a party. The Second Amendment amends the Credit Agreement to provide for, among other things, up to $200 million of additional Domestic Revolving Credit Commitments and the extension of the maturity of all of the outstanding Revolving Credit Commitments to March 2021. Giving effect to the Second Amendment, the total Domestic Revolving Credit Commitments are now $2.3 billion, and the total Revolving Credit Commitments are now $2.8 billion. The Borrowers have requested, and the Extending Revolving Credit Lenders and the Requisite Lenders have agreed to, among other things, allow the Borrowers to extend the final maturity of some or all of the Revolving Credit Commitments until the fifth anniversary of the Effective Date, provide for an increase of the Domestic Revolving Credit Commitments under the Credit Agreement by an aggregate principal amount of up to $200,000,000, provide that one or more persons may provide a new Revolving Credit Commitment under the Credit Agreement, and modify certain of the other terms of the Credit Agreement.

CBRE Services, Inc. Announces Pricing of $600 Million of 4.875% Senior Notes Due 2026

CBRE Group, Inc. announced the pricing of the offering of $600 million in aggregate principal amount of 4.875% Senior Notes due 2026. The Notes will have an interest rate of 4.875% per annum and are being issued at a price equal to 99.240% of their face value. The company’s wholly-owned subsidiary, CBRE Services, Inc., will issue the Notes, which are guaranteed on a full and unconditional basis by the company and the subsidiaries that guarantee its senior credit facility. The company estimates that the net proceeds from the offering will be approximately $589.8 million, after deducting the underwriters’ discounts and estimated offering expenses. The company intends to use the proceeds from this offering for general corporate purposes, including paying a portion of the consideration for its previously announced acquisition of Johnson Controls, Inc.’s Global Workplace Solutions (GWS) business. The acquisition is expected to close in the late third quarter or early fourth quarter of 2015. J.P. Morgan, HSBC, BofA Merrill Lynch, Wells Fargo Securities, Credit Suisse, MUFG, RBS and Scotiabank are acting as joint book-running managers for the offering of the Notes.

CBRE Services Plans Offering; Mulls Acquisitions

CBRE Services, Inc. has announced a fixed-income offering and plans to use the net proceeds from any sale of securities for general corporate purposes. General corporate purposes may include repayment of debt, acquisitions, additions to working capital, capital expenditures, investments in our subsidiaries and co-investments in our investment funds.

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