May 19, 2013
CB Richard Ellis Group (NYSE: CBG) is the largest commercial real estate brokerage firm in the world based on their 2009 revenue of $4.17 billion. They have 300 offices worldwide and approximately 29,000 employees.[1]Their operating income in 2007 reached over $241 million in 2009, with net loss of -$27.6 million.
In December of 2006, CB Richard Ellis acquired Trammel Crow Company for $2.2 billion, boosting its 2006 revenues to more than $4 Billion and making it the first commercial real estate brokerage firm to qualify for the Fortune 500 list of largest corporations based on revenue.[2] CB Richard Ellis had its revenues more than triple between 2003 and 2007, in large part due to the acquisition of Trammel Crow and the real estate boom that lasted between 2005 and 2007.[3] However, CB Richard Ellis has faced financial challenges brought upon by the 2007 credit crunch and 2008 financial crisis. Other risks CB Richard Ellis faces include significant increases in interest rates, as well as its high level of debt; as of December 31, 2009 CB Richard Ellis had $2.1 Billion USD of long term debt.[4]
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