CBRE GROUP, INC. ACQUIRES AFFILIATE IN TEL AVIV, ISRAEL
CBRE Group, Inc. (NYSE:CBRE) today announced that it has acquired MAN Properties Real Estate Consultants, its affiliate company in Tel Aviv, Israel. The move helps CBRE respond to increased demand from international and domestic clients targeting commercial real estate opportunities in the rapidly growing Israeli market.
Founded in 1996, MAN Properties employs a staff of 28 and has been an affiliate of CBRE since 1999. Today, the company is led by joint owners and managers Jacky Mukmel and Chaim Agi, and provides capital markets and leasing services to occupiers and investors in the office, technology and retail sectors.
Israel’s commercial real estate market is experiencing significant growth fuelled in part by investment in the Financial Services and Technology sectors, which together account for approximately one-third of total Israeli GDP.
Jacky Mukmel, joint head of MAN Properties Real Estate Consultants, added: “We have enjoyed a very successful relationship with CBRE over many years and becoming an integral part of its leading global platform will bring many benefits for our clients. Our economy is growing strongly and solid market fundamentals and a healthy development pipeline will underpin continued growth in the commercial real estate sector. We are delighted that we are now in an even stronger position to provide a best-in-class service for our clients.”
This acquisition will consolidate our presence in an important growth market where both domestic and international investors and corporate occupiers are increasingly active. We have an extremely collaborative relationship with MAN Properties who have an exceptional market reputation. We look forward to developing our client service offering together.
Certain of the statements in this release regarding the acquisition of Man Properties Real Estate Consultants (“Man”) 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 Man with our existing operations in Israel and elsewhere, 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. 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.