As part of its efforts to broaden service offering in the EMEA
(Europe, Middle East and Africa) region,
CBRE Group Inc.
) acquired a Belgium-based property and asset management
specialist - SOGESMAINT-CBRE. The company earlier held a minority
interest in this Belgium company.
The upscale acquisition will boost CBRE's competence in the
region with SOGESMAINT-CBRE being one of the leading property and
asset management businesses in Belgium and managing more than 1.4
million square meters across 90 properties throughout the
country. The company also offers project management and leasing
The deal also brings on board SOGESMAINT-CBRE's expert
professional team that would now be a part of its EMEA Property
and Asset Management practice, which manages over 35 million
square meters of assets across the region.
CBRE Group has been significantly focusing on increasing the
depth and breadth of its operations across European countries.
The acquisition of IMPACT-CORTI and Euro Mall Center Management,
two property management firms operating in Central Europe, and
SCM, a shopping center specialist in the Netherlands, accentuates
CBRE Group's strategic focus on this region.
We expect these strategic deals to complement CBRE Group's
existing property management services in the region and further
boost the company's capability to meet the increasing client
CBRE Group currently carries a Zacks Rank #3 (Hold). However,
REIT's that are performing better include
E-House (China) Holdings Limited
) having a Zacks Rank #1 (Strong Buy) while
Desarrolladora Homex, SAB de CV
) carry a Zacks Rank #2 (Buy).
CBRE GROUP INC (CBG): Free Stock Analysis
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