CBRE Overview Presentation for Business Review Day

Business Review Day

Corporate Overview

May 17, 2006

Brett White, President & Chief Executive Officer

Ken Kay, Senior Executive Vice President &

Chief Financial Officer

Exhibit 99.1

CB Richard Ellis | Page 2

This presentation contains statements that are forward looking within the

meaning

the

Private

Securities

Litigation

Reform

Act

1995,

including

statements regarding our growth momentum in 2006, future operations and

future financial performance. These statements should be considered as

estimates only and actual results may ultimately differ from these estimates.

Except to the extent required by applicable securities laws, we undertake no

obligation to update or publicly revise any of the forward-looking statements that

you

may

hear

today.

Please

refer

our

current

annual

report

Form

10-K

(in

particular, “Item 1-A, Risk Factors”) and our current quarterly report on Form 10-

Q which are filed with the SEC and available at the SEC’s website

(http://www.sec.gov), for a full discussion of the risks and other factors that may

impact any estimates that you may hear today. We may make certain

statements during the course of this presentation which include references to

“non-GAAP financial measures”, as defined by SEC regulations. As required by

these regulations, we have provided reconciliations of these measures to what

believe

are

the

most

directly

comparable

GAAP

measures,

which

are

attached hereto within the appendix.

Forward Looking Statements

CB Richard Ellis | Page 3

Industry Overview

CB Richard Ellis | Page 4

($ in billions)

Favorable Trends –

Investment Sales

$28

$34

$44

$51

$59

$10

$20

$30

$40

$50

$60

$70

2002

2003

2004

2005

2006P

1) Source: Institutional Real Estate, Inc. 2006 Plan Sponsor Survey conducted by Kingsley Associates

2) Source: Real Capital Analytics

Expected capital flows to real estate continue to increase

•

Investment Sales

Strong capital flows and improving

property income continue to underpin a

strong environment for investment

sales

Properties are being purchased with

more equity capital, lower leverage and

higher cash yield expectations

Record levels of investment activity

seen across Europe last year continued

into the first quarter of 2006

Investment activity across Asia Pacific

remains healthy

CB Richard Ellis | Page 5

Leasing Markets

Strong net absorption of U.S.

commercial real estate

Metropolitan areas dominated by trade

linkages, tourism, technology and

banking showed the strongest pace of

improvement

Recovery in office leasing is now

evident across much of Europe

In Asia, improving leasing market

fundamentals support increased

investor activity, especially foreign

institutions, private funds and REITs

Source: Torto Wheaton Research, Spring 2006

Forecast

-6

-4

-2

TWR Rent Index

Availability

TWR Rent Index, % change year ago - Industrial Sector

Availability rate, %

Forecast

-15

-10

-5

TWR Rent Index

Vacancy

TWR Rent Index, % change year ago - Office Sector

Vacancy rate, %

Favorable Trends –

Leasing

CB Richard Ellis | Page 6

Company Overview

CB Richard Ellis | Page 7

2x nearest competitor

Thousands of clients, more than 70% of Fortune 100

Q1 2006 TTM Revenue of $3.1 billion

Q1 2006 TTM Normalized EBITDA of $492.6 million

(1)

Strong organic revenue and earnings growth

commercial real estate brokerage

appraisal and valuation

property and facilities management

commercial mortgage brokerage

$17.3

billion in investment assets under management

Leading Global

Brand

Leading Global

Brand

Broad

Capabilities

Broad

Capabilities

Scale, Diversity

and Earnings

Power

Scale, Diversity

and Earnings

Power

100

years

50 countries

in key cities in U.S., Europe and Asia

(1)

Excludes integration related charges.

The World Class Commercial Real Estate Services Provider

CB Richard Ellis | Page 8

69%

21%

EMEA

Asia

Pacific

Americas

Global Investment

Management

Global Reach & Diversified Client Base

13%

30%

18%

13%

Individuals/

Partnerships

2005 Revenue by Client Type

Corporate

REITS

Insurance

Companies/

Banks

Pension

Funds

Government

Other

Conduits/

Wall St. Firms

Equity/

Opportunity Funds

Offshore Investors

2005 Revenue by Region

Top 20 customers are less than 9% of total revenue.

CB Richard Ellis | Page 9

Our full-service, global platform has allowed us to outperform competitors.

Competitive Landscape

Services Platform

CBRE

JLL

C&W

TCC

Q1 2003 TTM -

Q1 2006 TTM CAGR

36%

19%

12%

24%

16%

53%

(1) Excluding merger-related charges, integration expenses and IPO-related compensation

expense.

(2)

Average

based

ABM,

ACN,

ADP,

CEN,

FDC,

KELYA,

MAN,

PAYX,

RHI,

and

RMK.

TCC

JLL

CBRE

(1)

Revenue

EBITDA

Best In

Class

Business

Services

(2)

CBG

JLL

TCC

Business

Services

(2)

FY06 P/E

(as of 5/16/06)

21.3x

22.5x

19.3x

21.4x

Superior Platform Drives Outperformance

CB Richard Ellis | Page 10

Key Growth Strategies

CB Richard Ellis | Page 11

Growth Drivers

INDUSTRY TRENDS

RELATED STRATEGY

Customer Relationship Management initiative

Expanded

“dash-board”

for

landlord/agency

and

tenant

rep

specialists

Foster cross-market referrals and multi-market business

development

fundamentals

Improving leasing

Match risk/return profiles

Develop innovative investment vehicles

Grow assets under management

Capitalize

“feet

the

ground”

global

platform

Institutional ownership of real

estate

Increased capital allocations

to real estate

Leverage demographic-driven investment trends and

globalization of capital flows

Leverage expertise across all property types

Aggregate the fragmented private client market

CB Richard Ellis | Page 12

Growth Drivers (continued)

INDUSTRY TRENDS

RELATED STRATEGY

Corporate outsourcing

Capitalize on cross-selling opportunities

Leverage geographic diversity of platform

Capitalize on breadth of service offerings

Increased vendor

consolidation

Single point-of-contact management

Emphasize multi-market/cross-border capabilities

Focus on Fortune 500 penetration

Invest in enabling IT platforms

Capital markets solutions

Single-brand and single-source debt and equity offerings

Increase mortgage origination referrals from other CBRE

businesses (up 56% in 2005)

More joint debt-equity business development initiatives

Continued industry

consolidation

Selective in-fill acquisitions to round out service-delivery

platform

Buy-in partner/affiliate companies

CB Richard Ellis | Page 13

CB Richard Ellis Gunne

Easyburo SAS

Austin Adams

Dalgleish

DTZ Queensland

McCann Property and Planning

Advocate Consulting Group, Inc.

CB Richard Ellis Charlotte, LLC

Columbus Commercial Realty

Project Advantage, Inc.

Rutter & Strutz

Purchase price for these acquisitions was approximately $124 million

Associated annual revenue estimated to be approximately $208 million, which includes consolidation of

revenue resulting from the now majority owned IKOMA and Noble Gibbons

EBITDA margins expected to be consistent with CBRE margins upon full integration

2005 & 2006 In-Fill Acquisitions

Groupe Axival, Inc.

Immobiliere Developpement & Gestion

Noble Gibbons

IKOMA

CB Richard Ellis | Page 14

Financial Overview

CB Richard Ellis | Page 15

$117.4

$492.6

$183.2

$62.0

$41.5

$33.7

$25.9

$20.2

$127.2

$150.5

$115.0

$130.7

$300.3

$461.3

$90.1

Organic

Acquisition

Normalized EBITDA

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

TTM Q1

2006

$360

$429

$468

$583

$730

$1,035

$1,213

$1,324

$1,171

$1,170

$1,630

$2,365

$392

2004

$2,911

$3,052

2005

CBRE has consistently outpaced industry growth.

(1)

Normalized EBITDA excludes merger-related and other non-recurring costs, integration costs related to acquisitions and one-time IPO-related compensation expense.

($ in millions)

Consistent Long Term Growth

(1)

CB Richard Ellis | Page 16

Q1 2005

Record Q1 2006 Performance

Q1 2006

$538.3

$680.1

26%

(In millions, except EPS)

$52.7

$84.0

59%

Revenue

Normalized EBITDA¹

$19.0

$40.1

111%

$0.25

$0.52

108%

Net Income, as adjusted¹

EPS, as adjusted

1,2

Normalized EBITDA, net income, as adjusted and earnings per share, as adjusted exclude

one-time items, including integration costs related to acquisitions and certain costs of

extinguishment of debt.

Diluted earnings per share.

Q1 2006 Business Performance Highlights

CB Richard Ellis | Page 17

34%

39%

($ in millions)

2006

2005

% Change

Sales

229.5

182.1

Leasing

265.4

205.5

Property and Facilities Management

59.4

50.2

Appraisal and Valuation

54.8

41.1

Investment Management

31.7

21.1

Commercial Mortgage Brokerage

30.6

31.1

(2)

Other

8.7

7.2

Total

680.1

538.3

Q1 2006 Revenue Breakdown

CB Richard Ellis | Page 18

Notes:

Normalized EBITDA margins exclude one-time merger-related and other non-recurring

costs,

integration costs related to acquisitions and one-time IPO-related compensation expense.

9.8%

11.2%

12.7%

15.8%

16.1%

0.0%

5.0%

10.0%

15.0%

20.0%

2001

2002

2003

2004

2005

TTM Q1 2006

9.8%

11.2%

12.7%

15.8%

16.1%

0.0%

5.0%

10.0%

15.0%

20.0%

2001

2002

2003

2004

2005

TTM Q1 2006

CBRE has consistently improved its EBITDA margin.

Normalized EBITDA Margins

CB Richard Ellis | Page 19

($ in millions)

Notes:

Normalized EBITDA excludes merger-related and other non-recurring costs, Insignia integration costs and one-time IPO-

related compensation expense.

Total debt excludes non-recourse debt.

Future debt reduction through redemption of $293 million of high

coupon bonds

Debt Highlights

CB Richard Ellis | Page 20

Excludes $82.6 million and $256.0 million of warehouse facility at March 31, 2006 and December 31, 2005, respectively.

($ in millions)

3/31/2006

12/31/2005

Variance

Cash

253.1

449.3

(196.2)

Senior secured term loan tranche B

262.3

265.2

(2.9)

1/4

% senior subordinated notes

163.1

163.0

0.1

3/4

% senior notes

130.0

Other debt¹

30.1

19.0

11.1

Total debt

585.5

577.2

8.3

Stockholders' equity

844.8

793.7

51.1

Total capitalization

1,430.3

1,370.9

59.4

Total net debt

332.4

127.9

204.5

As of

Capitalization

CB Richard Ellis | Page 21

Strong cash flow generator

•

$99 million, or 63%

improvement from same period

last year

Low capital intensity

Utilization of internal cash flow

•

Debt reduction –

full

redemption of the 11¼% senior

subordinated notes of $163

million scheduled for June 15,

2006

•

Co-investment activities

•

In-fill acquisitions

Represents capital expenditures, net of concessions.

100

150

200

250

300

($ millions)

251

Net Income, as adjusted

D&A

Cap Ex

(41)

257

Internal Cash Flow

TTM Q1 2006 Normalized Internal Cash Flow

CB Richard Ellis | Page 22

Appendix

CB Richard Ellis | Page 23

Trailing Twelve Months

($ in millions)

Q1 2006

Q1 2005

Normalized EBITDA

492.6

327.6

Less:

Merger-related charges related to the

Insignia acquisition

15.6

Integration costs related to acquisitions

5.9

11.6

One-time compensation expense related

to the initial public offering

15.0

EBITDA

486.7

285.4

Add:

Interest income

10.4

5.5

Less:

Depreciation and amortization

50.0

48.5

Interest expense

54.8

59.3

Loss on extinguishment of debt

2.5

26.0

Provision for income taxes

150.2

61.2

Net income

239.6

95.9

Revenue

3,052.5

2,462.4

Normalized EBITDA Margin

16.1%

13.3%

Reconciliation of Normalized EBITDA to EBITDA to Net Income

CB Richard Ellis | Page 24

Year Ended December 31,

($ in millions)

2005

2004

2003

2002

2001

(1)

Normalized EBITDA

461.3

300.3

183.2

130.7

115.0

Less:

Merger-related and other non-

recurring charges

25.6

36.8

28.6

Integration costs related to the Insignia

acquisition

7.1

14.4

13.6

IPO-related compensation expense

15.0

EBITDA

454.2

245.3

132.8

130.7

86.4

Add:

Interest income

9.3

6.9

3.6

3.2

4.0

Less:

Depreciation and amortization

45.5

54.8

92.6

24.6

37.9

Interest expense

54.4

68.1

71.3

60.5

50.0

Loss on extinguishment of debt

7.4

21.1

13.5

Provision (benefit) for income taxes

138.9

43.5

(6.3)

30.1

19.1

Net income (loss)

217.3

64.7

(34.7)

18.7

(16.6)

Revenue

2,910.6

2,365.1

1,630.1

1,170.3

1,170.8

Normalized EBITDA Margin

15.8%

12.7%

11.2%

9.8%

(1)

The results of operations for the year ended December 31, 2001 have been derived by combining

the results of operations of the company for the period from February 20, 2001 (inception) to

December 31, 2001, with the results of operations of CB Richard Ellis Services, Inc. prior to the

MBO merger of the two, from January 1, 2001 to July 20, 2001, the date of the merger.

Reconciliation of Normalized EBITDA to EBITDA to Net Income (Loss)

CB Richard Ellis | Page 25

Three Months Ended March 31,

($ in millions)

2006

2005

Normalized EBITDA

84.0

52.7

Less:

Integration costs related to

acquisitions

1.3

2.5

EBITDA

82.7

50.2

Add:

Interest income

3.6

2.5

Less:

Depreciation and amortization

14.9

10.4

Interest expense

14.0

13.6

Loss on extinguishment of debt

4.9

Provision for income taxes

20.5

9.2

Net income

36.9

14.6

Reconciliation of Normalized EBITDA to EBITDA to Net Income

CB Richard Ellis | Page 26

($ in millions, except share data)

2006

2005

Net income

36.9

14.6

Amortization expense related to net revenue backlog

acquired in acquisitions, net of tax

2.3

Integration costs related to acquisitions, net of tax

0.9

1.5

Loss on extinguishment of debt, net of tax

2.9

Net income, as adjusted

40.1

19.0

Diluted income per share, as adjusted

0.52

0.25

Weighted average shares outstanding for diluted income

per share, as adjusted

77,649,588

76,184,725

Three Months Ended March 31,

Reconciliation of Net Income to Net Income, As Adjusted

CB Richard Ellis | Page 27

100

150

200

250

300

Amortization expense related

to net revenue backlog

acquired in acquisitions¹

Integration costs related to

acquisitions¹

Costs of extinguishment of

debt¹

Tax expense related to the

repatriation of foreign earnings

under the American Jobs

Creation Act of 2004

Net Income,

As Adjusted

TTM 1st Quarter 2006 Results

($ millions)

240

251

Reported

Net Income

(a)

(b)

(c)

1. Net of tax.

(d)

Reconciliation of Net Income to Net Income, As Adjusted