Los Angeles,
03
May
2017
|
15:33
Europe/London

CBRE GROUP, INC. IS A FOUNDING ANCHOR INVESTOR IN FIFTH WALL VENTURES MANAGEMENT, LLC

Venture Capital Fund to Back New Technologies for the Built Environment

CBRE Group, Inc. (NYSE: CBG) today announced that the company is a founding anchor investor in Fifth Wall Ventures Management, LLC (Fifth Wall Ventures), the first significant venture capital fund entirely focused on backing promising new technologies for the built environment.

The fund closed with $212 million of capital commitments, with CBRE as the only real estate services company invested in the fund. Other Fifth Wall Ventures anchor investors include key industry players such as Equity Residential, Host Hotels, Hines, Lennar, Macerich and Prologis.

“Our active engagement in Fifth Wall Ventures will provide early insight into companies and technologies that have the potential to enhance our ability to deliver great outcomes for our clients,” said Chandra Dhandapani, CBRE’s Chief Digital & Technology Officer. “This is one vehicle, among several, that CBRE will use to identify emerging technologies, connect with top talent, build strategic partnerships and make investments that will create further competitive advantages for our clients and our company.”

“CBRE understands technology, talent and venture investing,” said Brendan Wallace, co-founder of Fifth Wall Ventures. “They moved quickly to engage with another founding investor to lead the negotiations to help establish our venture fund. Their early sponsorship of VTS/Hightower and acquisition of Floored, a top-tier innovator, impressed our team. They are also the largest, most profitable full-service commercial real estate firm in the world. With talent and scale advantage, CBRE is a perfect partner for our fund and for the companies that we invest in.”

Contact
photo:Helen  Basil
Helen Basil
Head of Communications
+44 2071822145
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