New Offering Will Deliver Efficiency and Smart Building Solutions to
LOS ANGELES--(BUSINESS WIRE)--Apr. 16, 2018--
CBRE Group, Inc. (NYSE: CBRE) announced today that it has made a
strategic investment in energy services firm Redaptive, Inc.
Headquartered in San Francisco, Redaptive is a fast-growing provider of
integrated energy efficiency solutions and energy financing for building
owners and occupiers.
“Redaptive offers a new and compelling service for CBRE clients,” said
Matt Werner, Global President, Facilities Management. “CBRE’s strategic
partnership and investment will enable Redaptive to expand its capacity
into more portfolios worldwide, while helping our clients reduce costs
and improve sustainability.”
Mr. Werner will join the Redaptive Board of Directors, representing CBRE
and other external investors.
Redaptive differs from traditional energy services firms in that it
offers portfolio-wide, turnkey efficiency solutions, backed by
transparent measurement and verification reporting. Redaptive finances
and manages building efficiency projects, recovering costs from savings
delivered. Redaptive’s solutions allow clients to implement projects in
a risk-mitigated manner, leveraging third-party technology and
“Every one of our client portfolios has latent energy inefficiencies,
presenting an opportunity for improvement,” says John Hagen, CBRE’s
Managing Director, Energy and Sustainability. “The challenge for many of
our clients is securing capital and project resources to implement
energy conservation measures when their organization has so many other
priorities. We are excited to support Redaptive and bring forward a
compelling option for our clients.”
“We are thrilled to have this strategic support from CBRE,” said Arvin
Vohra, Co-CEO of Redaptive. “It will enable us to accelerate our product
offerings and continue to break down the barriers to large-scale
“CBRE and Redaptive are already collaborating to solve complex client
problems and design unique solutions to accelerate and scale energy
efficiency,” added John Rhow, Redaptive Co-CEO. “This investment and
partnership bodes well for the future of the industry.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company
headquartered in Los Angeles, is the world’s largest commercial real
estate services and investment firm (based on 2017 revenue). The company
has more than 80,000 employees (excluding affiliates), and serves real
estate investors and occupiers through approximately 450 offices
(excluding affiliates) worldwide. CBRE offers a broad range of
integrated services, including facilities, transaction and project
management; property management; investment management; appraisal and
valuation; property leasing; strategic consulting; property sales;
mortgage services and development services. Please visit our website at www.cbre.com.
Certain of the statements in this release regarding our investment in
Redaptive, Inc. that do not concern purely historical data are
forward-looking statements within the meaning of the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of 1995.
These statements may be identified by words such as “anticipate,”
“believe,” “could,” “should,” “propose,” “continue,” “estimate,”
“expect,” “intend,” “may,” “plan,” “predict,” “project,” “will” and
words of similar meaning. Forward-looking statements are made based on
our management’s expectations and beliefs concerning future events
affecting us and are subject to uncertainties and factors relating to
our operations and business environment, all of which are difficult to
predict and many of which are beyond our control. Accordingly, actual
performance, results and events may vary materially from those indicated
in forward-looking statements, and you should not rely on
forward-looking statements as predictions of future performance, results
or events. Numerous factors could cause actual future performance,
results and events to differ materially from those indicated in
forward-looking statements, including, but not limited to, our clients’
willingness to utilize the services offered by Redaptive, as well as
other risks and uncertainties discussed in our filings with the U.S.
Securities and Exchange Commission (SEC). Any forward-looking statements
speak only as of the date of this release. We assume no obligation to
update forward-looking statements to reflect actual results, changes in
assumptions or changes in other factors affecting forward-looking
information, except to the extent required by applicable securities
laws. If we do update one or more forward-looking statements, no
inference should be drawn that we will make additional updates with
respect to those or other forward-looking statements. For additional
information concerning factors that may cause actual results to differ
from those anticipated in the forward-looking statements and other risks
and uncertainties to our business in general, please refer to our SEC
filings, including our Form 10-K for the fiscal year ended December 31,
2017. Such filings are available publicly and may be obtained from our
website at www.cbre.com
or upon request from the CBRE Investor Relations Department at email@example.com.
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Source: CBRE Group, Inc.
CBRE Group, Inc.