CBG Offers Advisory Service to UTX - Analyst Blog

CB Richard Ellis Group Inc. (CBG), the world’s largest commercial real estate firm (on the basis of 2009 revenue), was recently selected by United Technologies Corp. (UTX) as its preferred service provider across its property portfolio in Europe, the Middle East, Africa and Russia. CB Richard Ellis will provide transaction management, brokerage and strategic real estate advisory services to United Technologies with immediate effect.

Under the terms of the agreement, CB Richard Ellis will provide advisory services for a portfolio spread across 38 countries spanning 28 million square feet. The strategic partnership will enable United Technologies to gain access to market-leading real estate resources and expert property-related advice to leverage its local market resources. On the other hand, the tie-up will enable CB Richard Ellis to strengthen its position in the market and benefit from the improving European economy.

CB Richard Ellis is the global market leader in commercial real estate brokerage and advisory services for property leasing and sales, forecasting, valuations, origination and servicing of commercial mortgage loans, as well as project and real estate investment management. The company has a broad range of real estate products and services, and an extensive knowledge of domestic and international real estate markets that enables it to operate as a single-source provider of real estate solutions.

CB Richard Ellis offers a range of services to occupiers, owners, lenders and investors in office, retail, industrial, multi-family and other types of commercial real estate assets globally under the CB Richard Ellis brand and provides development services under the Trammell Crow brand.

The rating on CB Richard Ellis is currently “Neutral” with a Zacks #2 Rank, which translates to a short-term ‘Buy’ recommendation and indicates that the stock is expected to perform well above the overall U.S. equity market for the next 1−3 months.