{"id":1004100874,"date":"2014-07-21T10:09:46","date_gmt":"2014-07-21T18:09:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004100874"},"modified":"2022-12-07T21:40:42","modified_gmt":"2022-12-08T05:40:42","slug":"cbre-acquires-pkf-consulting","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-acquires-pkf-consulting\/","title":{"rendered":"CBRE Acquires PKF Consulting"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

\"Kevin<\/a>

Kevin Mallory, CBRE Hotels<\/p><\/div>\n

CBRE Group Inc., the world\u2019s largest commercial real estate services and investment firm in terms of 2013 revenue, has gotten even larger. CBRE just acquired PKF Consulting USA L.L.C., an international advisory, consulting and research firm providing services to the hospitality, real estate and tourism industries.<\/p>\n

CBRE purchased PKF Consulting USA and its research affiliate, PKF Hospitality Research LLC., from real estate company FirstService Corp., parent company of leading commercial real estate services firm Colliers International.<\/p>\n

\u201cWe have CBRE Hotels [headed by Kevin Mallory, senior managing director] as well as the hospitality professionals in our valuation and advisory services area. We have a strong practice and demand for services and for strategic insight has only been increasing so with PKF professionals and knowledge, we\u2019re adding great players to what is a great team already,\u201d a CBRE spokesperson told Commercial Property Executive<\/i>.<\/p>\n

Headquartered in San Francisco, PKF counts hotel owners and operators, financial institutions, real estate players, product and service providers and governmental agencies as its clients. The company offers a full roster of services, including include real estate appraisals, litigation support and expert testimony, market and financial feasibility studies, spa and wellness consulting, purchase price allocations, asset recovery services and impact studies.<\/p>\n

And then there\u2019s the research provided through PKF-HR. PKF-HR will enhance CBRE\u2019s existing research platform, which covers the office and industrial markets.<\/p>\n

\u201cWe, like others in the hotel and hospitality sector, have been well aware of PKF and their reputation and the work they do so it\u2019s really exciting to have them come and join us,\u201d the spokesperson added. \u201cAnd we think with their knowledge in consulting and research expertise cross-mixed with our strong hotel platform in terms of valuation and appraisal and brokerage, it\u2019s really going to be a great addition.\u201d<\/p>\n

Times are good in the hospitality sector. According to the June edition of PKF-HR\u2019s Hotel Horizons forecast report, a favorable balance between supply and demand will yield an increase in the national hotel occupancy level to 63.6 percent, exceeding the pre-recession high of 63.1 percent.<\/p>\n

\u201cAt this time in the cycle, our forecasts have proven to be most accurate, and all we see for the foreseeable future is a period of persistent, positive performance,\u201d according to the PKF-HR report. \u201cThis consistent, predictable and profitable environment offers all industry participants ample opportunities to make money during the next few years.\u201d<\/p>\n

As for CBRE, it\u2019s shaping up to be a busy summer for the company. Just last week, CBRE acquired commercial real estate services firm U.S. Equities Realty L.L.C.<\/span><\/a>, which leases and manages 17 million square feet of property in metropolitan Chicago, including the Willis Tower (formerly Sears Tower). And in June, CBRE secured an assignment to provide property management services for CommonWealth REIT\u2019s 42.9 million-square-foot property portfolio<\/span><\/a>.<\/p>\n

\u00a0<\/b><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

CBRE Group Inc. has acquired PKF Consulting USA, an international advisory, consulting and research firm providing services to the hospitality, real estate and tourism industries.<\/p>\n","protected":false},"author":969,"featured_media":1004100885,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742],"tags":[],"class_list":["post-1004100874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest"],"acf":[],"yoast_head":"\nCBRE Acquires PKF Consulting - 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\/cbre-acquires-pkf-consulting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBRE Acquires PKF Consulting\" \/>\n<meta property=\"og:description\" content=\"CBRE Group Inc. has acquired PKF Consulting USA, an international advisory, consulting and research firm providing services to the hospitality, real estate and tourism industries.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cbre-acquires-pkf-consulting\/\" \/>\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=\"2014-07-21T18:09:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T05:40:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Kevin-Mallory-Senior-Managing-Director-of-CBRE-Hotels.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"235\" \/>\n\t<meta property=\"og:image:height\" content=\"288\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-acquires-pkf-consulting\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cbre-acquires-pkf-consulting\/\",\"name\":\"CBRE Acquires PKF Consulting - 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