CBRE Group, Inc. (NYSE: CBG) today announced that it has closed the acquisition of its affiliate company in Norway, Atrium AS.
Atrium was founded in 1993 and provides investment, leasing, occupier and valuation services to local and international clients. In 2000 Atrium became CBRE’s Norwegian affiliate and both businesses have since successfully worked together on numerous investment, leasing and outsourcing mandates.
John Olof Solberg, Managing Director of Atrium, will remain with the business as head of Norway for CBRE.
Martin Samworth, CEO, EMEA, CBRE, commented:
“We are delighted to welcome our Norwegian colleagues, with whom we have had a collaborative relationship for the last 15 years. We have seen significantly increased demand from clients targeting commercial real estate opportunities across the Nordics and, building on Atrium’s exceptional reputation and client base, together we can now enhance and expand the services we provide our clients.”
Norway has a strong, open economy with abundant natural resources, and enjoys one of the world’s highest living standards with the fourth-highest GDP per capita globally. This has also enabled the country to build the world’s third largest sovereign wealth fund. Norway attracted a record €13.4 billion of commercial real estate investment in 2015, overtaking Sweden at the end of the year to become the largest Nordic property market.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com
“Safe Harbor” Statement Under the U.S. Private Securities Litigation Reform Act of 1995
Certain of the statements in this release regarding the acquisition of Atrium AS 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. These forward-looking statements involve risks and uncertainties, including, but not limited to, CBRE’s ability to successfully integrate Atrium with its existing operations in the Nordics and across EMEA, as well as other risks and uncertainties discussed in CBRE’s filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release and, except to the extent required by applicable securities laws, CBRE expressly disclaims any obligation to update or revise any of them to reflect actual results, any changes in expectations or any change in events. If CBRE does update one or more forward-looking statements, no inference should be drawn that it 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 risks to CBRE’s business in general, please refer to CBRE’s SEC filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2015. Such filings are available publicly and may be obtained off CBRE's website at www.cbre.com or upon request from the CBRE Investor Relations Department at [email protected]