LOS ANGELES--(BUSINESS WIRE)--May 1, 2017--
CBRE Group, Inc. (NYSE:CBG) today announced that it has acquired Aurora
Projects Pty Limited (Aurora), a leading project advisory and management
company in Australia. The acquisition significantly strengthens CBRE’s
position as a leader in corporate real estate services in the Pacific
(Australia and New Zealand) region.
Aurora’s team of 31 professionals in Sydney and Perth will be integrated
within CBRE’s existing Project Management division in the Pacific. The
combined operation will employ a staff of 105 Project Management
professionals with broad and deep capabilities.
Led by Malcolm Naylor and Jo Thorley, Aurora has provided a range of
consultancy services for over 20 years.
Aurora has a significant healthcare focus and has undertaken major
advisory and project management work for clients in this sector in all
Australian states. The firm has also developed strong capabilities in
the higher education sector.
Ray Pittman, President and CEO of CBRE’s Australian & New Zealand
operations, said the acquisition reflected the company’s continued focus
on the growth of its occupier outsourcing business (Global Workplace
Solutions) and ongoing strategy to diversify into new growth areas.
“We will now be able to provide a more diversified, first-class service
offering to clients in Australia and New Zealand given Aurora’s
reputation and track record as a market leader in the very specialized
areas of health and higher education project management,” Mr. Pittman
Rhys Harvey, the Senior Managing Director of CBRE’s Pacific Global
Workplace Solutions business, added: “The quality of Aurora’s people and
their trusted client relationships will further strengthen our offering
at a time of considerable growth in the Australian healthcare sector. In
turn, we can provide Aurora’s clients with access to our broad service
offering and reach around the world.”
Ian Rea, Managing Director of CBRE Project Management, will lead the
integrated team with Ms. Thorley and Mr. Naylor assuming responsibility
for health and higher education clients, respectively.
Ms. Thorley said CBRE’s global capabilities in the healthcare sector was
a key attraction, allowing Aurora to enhance its expertise with a
company recognized as a market leader in the development of complex
capital health projects in the U.S.
“The strength of the CBRE brand will enhance our ability to continue to
cultivate sustainable client relations in both the health and higher
education sectors and, importantly, it will enable us to offer our staff
superior career opportunities,” Mr. Naylor added.
Aurora’s significant assignments include the oversight of WA Country
Health Service’s $1.8+ billion program of capital works projects
together with project management of $1.4 billion of major public
hospital capital works projects in New South Wales. Aurora is also
involved in several complex and long term projects for Macquarie
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 and investment firm (based on 2016 revenue). The company
has more than 75,000 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 the acquisition of
Aurora Projects Pty Limited (Aurora) 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 successfully integrate Aurora with our existing operations in
Australia, 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 Form 10-K for the fiscal year ended
December 31, 2016. 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.