LOS ANGELES--(BUSINESS WIRE)--Jun. 19, 2018--
CBRE Group, Inc. (NYSE: CBRE) today announced that it has invested in a
fund sponsored by MetaProp, an early-stage PropTech venture capital and
acceleration firm. MetaProp’s Fund II will invest in early-stage real
estate and real estate-related technology firms.
“We are seeing increasing momentum among property tech start-ups in our
industry and our investment in MetaProp will expand our insight into
this important ecosystem,” said Chandra Dhandapani, CBRE’s Chief Digital
& Technology Officer. “Whether we buy, build or partner to enhance our
capabilities, continuing to deliver the best outcomes for clients
requires that technology is embedded into every aspect of CBRE’s
MetaProp investors include real estate and real estate technology
companies as well as REITs, pension managers and private equity firms.
Based in Manhattan's Silicon Alley, the MetaProp NYC 22-week
accelerator, 8-week pre-accelerator and the MetaProp Bridge accelerator
at Columbia University are leading programs for high growth PropTech
start-ups. MetaProp NYC's team and strategic seed stage funds have
invested in 90+ technology companies across the real estate value chain.
CBRE’s investment in MetaProp Fund II is another element of its strategy
to deliver a market-leading operating platform, particularly digital and
technology capabilities. CBRE has a robust suite of more than 35
proprietary enablement technologies (CBRE Vantage) that help the
company’s professionals to deliver superior client outcomes. More
information can be found at cbre.com/vantage.
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
MetaProp Fund II (MetaProp) 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.
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 ability to utilize our investment in
MetaProp to identify emerging technologies, 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 and Form 10-Q for the quarter ended March 31, 2018. 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 firstname.lastname@example.org.
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Source: CBRE Group, Inc.
CBRE Group, Inc.