CBRE´s Revenues in Spain Shot Up by 30% in 2013

10/02/2014 – Expansion

Real estate consultant company CBRE (formerly Richard Ellis) closed the fiscal year 2013 with revenues 30% higher than the previous year. (…)

Last year, the company celebrated the 40th year since it had entered on the Spanish market stage. In total, it earned €60 million during that time, basically thanks to participating in “the greatest transactions in the sector, not only at national, but also at European level”, explains Adolfo Ramírez-Escudero, the new CEO for CBRE España.

The noteworthy transactions the company assisted at as an advisor are: the sale of Tour Adrià on the side of Testa a Tesfrán in Paris, the purchase of logistics units by side of the U.S. Blackstone and the purchase of 253 branch offices rented to Banco Sabadell, advising the Mexican businessman Moisés El-Mann.

Sareb

Since February 2013, CBRE has been working on property valuation for Sarebtogether with law firms: Clifford Chance, KPMG and IBM delivering appraisal of over 300.000 assets.

At the global level, CBRE registered about €5.322 million income, 11% higher than in 2012. The net capital gains were equal to €350,7 million. (…)

On Friday, the company´s shares cost $26.32, that is 1.82% more. In 2013, benefit per share rose by 17%.

Original article: Expansión (Rocío Ruiz)

Translation: AURA REE

57