CBRE Group, Inc.
) disclosed the completion of the previously announced
acquisition of the Germany-based technical real estate consulting
firm, VALTEQ Gesellschaft mbH and its subsidiaries. Notably,
shares of the company rose 1.34% during the trading session on
Mar 4, following this announcement.
The deal broadened CBRE Group's consultancy platform in
Germany and diversified its service offerings. The deal also
brought on board VALTEQ's team of professionals comprising civil
engineers, architects, economists, geologists and service
As a matter of fact, CBRE Group has been actively engaged in
deals for expanding business on the national and international
platform. Earlier last month, as part of its effort to boost the
cross-border Global Corporate Services offering, CBRE Group
penned a renewal and expansion deal with Bank of America Merrill
Lynch ('BofAML') of
Bank of America Corp.
). Besides providing services to BofAML's business across Latin
America, Asia Pacific and Europe, the Middle East and Africa, the
company will now offer services to BofAML's operations in South
Africa and its Enterprise Services in Taiwan.
With market conditions continuing to improve, we believe that
such opportunistic acquisitions and contract expansions would
serve as growth drivers for CBRE Group. However, currently we
believe that the regulatory limits on Government-Sponsored
Enterprises' (GSEs) lending would continue to pressurize revenue
and profits for the commercial mortgage brokerage business of
this Zacks Rank #4 (Sell) stock going forward.
Some better-ranked stocks in the real estate operations
NorthStar Realty Finance Corp.
Jones Lang LaSalle Inc.
). Both stocks carry a Zacks Rank #2 (Buy).
BANK OF AMER CP (BAC): Free Stock Analysis
CBRE GROUP INC (CBG): Free Stock Analysis
JONES LANG LASL (JLL): Free Stock Analysis
NORTHSTAR RLTY (NRF): Free Stock Analysis
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