CBRE Group Inc.
has acquired CB Richard Ellis-N.E. Partners LP (CBRE/New England), a long-standing joint venture with Whittier Partners Group and the largest full-service commercial real estate services operation in New England. The terms of the acquisition were not disclosed.
The CBRE/New England team has joined CBRE immediately, although the CBRE/New England brand will remain in place through the end of the year. CBRE/New England manages more than 100-million square feet of commercial property and corporate facilities and has more than 1200 employees spread across seven offices throughout the five-state New England region.
“We are very excited to fully integrate our market leading regional platform into CBRE, the industry’s leader in commercial real estate services,” said Andy Hoar, President and Co-Managing Partner at CBRE/New England. “We felt the timing was right for this transition to better serve our clients and our employees.”