CBRE Makes Investment in MetaProp Fund II
LOS ANGELES--(BUSINESS WIRE)-- 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 business.”
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 email@example.com.
Source: CBRE Group, Inc.
Released June 19, 2018