QuickLinks -- Click here to rapidly navigate through this document

EXHIBIT 21

SUBSIDIARIES OF CBRE HOLDING, INC.

At December 31, 2001

NAME
      State (or Country)
of Incorporation

CB Commercial Ltd.       United Kingdom
CB Richard Ellis Investors KK       Japan
CB Richard Ellis, Inc.       Delaware
CB Richard Ellis Services, Inc.       Delaware
CBRE Stewardship       United Kingdom



QuickLinks

SUBSIDIARIES OF CBRE HOLDING, INC. At December 31, 2001