LOS ANGELES--(BUSINESS WIRE)--Oct. 21, 2009--
CB Richard Ellis Group, Inc. (NYSE:CBG) today announced the expansion of
its existing U.K.-based investment banking platform into the Americas.
CB Richard Ellis’ investment banking professionals in the Americas will
assist real estate as well as lodging and gaming companies with
recapitalization and restructuring strategies, merger and acquisition
opportunities, and capital-raising needs.
CB Richard Ellis has provided investment banking services to clients in
Europe for the past several years and is engaged on a number of major
restructuring assignments on behalf of several leading European
financial institutions. In addition, CB Richard Ellis is overseeing the
workout of a number of the most significant defaulted securitized
investment vehicles in Europe, and is also facilitating the trading of
property derivatives through a joint venture with GFI Group, Inc.
The Americas investment banking business will be led by Glenn A. Carlin
and John R. Perkins, veteran investment bankers with many years of
experience in J.P. Morgan’s real estate investment banking group. They
join CB Richard Ellis as Senior Managing Directors. Mr. Perkins spent
the past two years at Banc of America Securities. Mr. Carlin and Mr.
Perkins have broad experience providing advice to and executing on the
capital needs of public and private real estate owners and investors
across all property sectors, including lodging and gaming. Mr. Carlin
founded J.P. Morgan’s lodging business in 1999 and its gaming business
in 2002.
Eric Tanjeloff also joins the company from J.P. Morgan as a Managing
Director where he worked closely with both Mr. Carlin and Mr. Perkins
across a broad range of transactions. Mr. Tanjeloff led transaction
teams and managed client relationships for some of J.P. Morgan’s largest
real estate, gaming and lodging clients, including several key financial
sponsors.
“This is a natural expansion of our strong investment banking platform
in Europe,” said Brian Stoffers, president of CBRE Capital Markets.
“With property owners of all types challenged to deleverage in the face
of constricted capital markets, weak fundamentals and falling asset
values, we have now added resources in the Americas to advise our
clients on their capital structures as well as strategic alternatives.”
“CB Richard Ellis is the ideal platform for us,” Mr. Carlin said. “It is
the pre-eminent commercial real estate services company with a global
platform that is unrivaled in the industry.”
Mr. Perkins added, “We look forward to expanding an already successful
platform in Europe to CB Richard Ellis’ Americas clients. Our activities
will focus on capital raising, restructuring of balance sheets, advising
on corporate acquisitions and dispositions and developing creative
solutions to meet today’s marketplace challenges.”
CB Richard Ellis’ Americas investment banking team will be based in New
York.
CB Richard Ellis’ investment banking services complement its capital
markets resources, including its preeminent investment sales and equity
and debt placement capabilities. CB Richard Ellis completed more than
$66 billion of capital markets transactions in 2008.
About CB Richard Ellis
CB Richard Ellis 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 2008 revenue). The
Company has approximately 30,000 employees (excluding affiliates), and
serves real estate owners, investors and occupiers through more than 300
offices (excluding affiliates) worldwide. CB Richard Ellis 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. CB Richard Ellis has been named a BusinessWeek
50 “best in class” company and Fortune 100 fastest growing
company two years in a row. Please visit our Web site at www.cbre.com.
Source: CB Richard Ellis Group, Inc.
CB Richard Ellis Group, Inc.
Steve Iaco, Corporate Communications
212-984-6535
Robert
McGrath, Corporate Communications
212-984-8267
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