{"id":1004033768,"date":"2011-11-01T05:48:46","date_gmt":"2011-11-01T13:48:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004033768"},"modified":"2022-12-09T00:32:54","modified_gmt":"2022-12-09T08:32:54","slug":"breaking-news-cbre-closes-on-ings-europe-operations-for-540m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/breaking-news-cbre-closes-on-ings-europe-operations-for-540m\/","title":{"rendered":"CBRE Closes on ING’s Europe Operations for $540M"},"content":{"rendered":"

November 1, 2011<\/strong>
\nBy Nicholas Ziegler, News Editor<\/em><\/p>\n

And another piece of the deal is done. As Commercial Property Executive <\/em>reported previously, CBRE Group Inc. has been in the process of acquiring parts of ING Group N.V.\u2019s real estate management operations, a process that started in July<\/a>. In early October, CBRE purchased ING\u2019s operations in Asia<\/a> and, yesterday, both firms announced that the European theatre has reached a close as well.<\/p>\n

The ING operations in Europe — including the ING Real Estate Select global fund of funds business — are being merged with CBRE\u2019s existing real estate investment management business, and the combined entity, including the Asia business will operate as CBRE Global Investors, headquartered in Los Angeles.<\/p>\n

Brett White, CEO of CBRE, characterized the deal as a \u201csource of stable revenues\u201d for his firm, added that \u201cwith the ING REIM Europe acquisition, we have completed the most transformative transaction in our industry since our purchase of Trammell Crow Company in 2006.\u201d<\/p>\n

CBRE paid approximately $540 million for ING Europe, part of the nearly $900 million total price for all of ING\u2019s operations. As part of the most recent transaction, over the next several months, CBRE will also acquire up to approximately $75 million of real estate co-investments managed by ING REIM in Europe — in addition to co-investments of approximately $75 million acquired as part of the ING REIM Asia and ING Clarion Real Estate Securities transactions.<\/p>\n

\u201cCompletion of the ING REIM acquisition is a significant milestone for our firm,\u201d Matt Khourie, global president of CBRE Global Investors, said. \u201cWith the ING REIM talent and resources we\u2019ve added globally — coupled with our research-based approach to real estate investment — we can offer clients an expanded global platform to meet their investment objectives in key markets across the world.\u201d<\/p>\n

CBRE is set to offer more information on the deal later today in a conference call to investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

In another piece of its acquisition of ING Group’s real estate management operations, CBRE has just closed on the European business — paying $540 million — after nabbing the Asia operations last month. <\/p>\n","protected":false},"author":1201,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,16,21783,21742,21785],"tags":[],"class_list":["post-1004033768","post","type-post","status-publish","format-standard","hentry","category-corporate-real-estate","category-international","category-investment","category-latest","category-property-management"],"acf":[],"yoast_head":"\nCBRE Closes on ING's Europe Operations for $540M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/breaking-news-cbre-closes-on-ings-europe-operations-for-540m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBRE Closes on ING's Europe Operations for $540M\" \/>\n<meta property=\"og:description\" content=\"In another piece of its acquisition of ING Group's real estate management operations, CBRE has just closed on the European business -- paying $540 million -- after nabbing the Asia operations last month.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/breaking-news-cbre-closes-on-ings-europe-operations-for-540m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-11-01T13:48:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T08:32:54+00:00\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/breaking-news-cbre-closes-on-ings-europe-operations-for-540m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/breaking-news-cbre-closes-on-ings-europe-operations-for-540m\\\/\"},\"author\":{\"name\":\"Nicholas Ziegler\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ff3a837f33daecfcf8978b405eaae20c\"},\"headline\":\"CBRE Closes on ING’s Europe Operations for $540M\",\"datePublished\":\"2011-11-01T13:48:46+00:00\",\"dateModified\":\"2022-12-09T08:32:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/breaking-news-cbre-closes-on-ings-europe-operations-for-540m\\\/\"},\"wordCount\":326,\"commentCount\":0,\"articleSection\":[\"Corporate Real Estate\",\"International\",\"Investment\",\"News\",\"Property Management\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/breaking-news-cbre-closes-on-ings-europe-operations-for-540m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/breaking-news-cbre-closes-on-ings-europe-operations-for-540m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/breaking-news-cbre-closes-on-ings-europe-operations-for-540m\\\/\",\"name\":\"CBRE Closes on ING's Europe Operations for $540M - 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