CBRE Group, Inc. Acquires London-Based Retail Property Advisor Michael Horwitz & Company
| June 1, 2016
CBRE Group, Inc. (NYSE:CBG) today announced that it has acquired Michael Horwitz & Company, a London-based retail property advisor specializing in the luxury goods retail sector.
The move follows CBRE’s acquisition of the luxury retail property advisor Michael Peddar & Co in 2011, and further strengthens the company’s retail property advisory and transaction service offer for clients operating within the growing luxury goods and life style sector.
Michael Horwitz & Company was founded in 1996 and is led by Michael Horwitz. The company has a long-established client base of British and international aspirational and luxury retail brands, and has been particularly successful in advising French and Italian premium brands on their real estate strategies to enter and expand in the UK.
Michael Horwitz and his team will join CBRE’s UK retail team in London. They will operate alongside CBRE’s London retail experts including Eric Eastman, Kevin Farrow and Mark Burlton and with CBRE’s global retail team. Existing clients of Michael Horwitz & Company with requirements to develop and manage their real estate strategies in the UK and internationally, will now be able to leverage CBRE’s global platform and its comprehensive suite of market-leading real estate services.
Ciaran Bird, UK Managing Director at CBRE said; “Our strengthened team’s collective expertise and relationships with many of the world’s leading luxury brands, combined with our broader capability in global retail, provides a powerful advantage for clients expanding into the growing luxury goods and lifestyle sector in the UK and markets globally.”
Michael Horwitz said: “London continues to be a magnet for leading international retail brands and our clients have been and will continue to be, first-movers in acquiring prime locations here and in other major cities across the world. Becoming part of CBRE gives us access to its powerful international platform and services, and means we can now stay close to our long-standing clients and assist them with their international expansion plans and broader property needs wherever in the world they choose to operate.”
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 Michael Horwitz & Company 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 Michael Horwitz & Company with its existing retail operations in the United Kingdom, across Europe and globally, 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 first quarter earnings report on Form 8-K, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2016, and 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]