Profile: CB Richard Ellis Group, Inc. (CBG)

CB Richard Ellis Group, Inc., incorporated on February 20, 2001, is a commercial real estate services firm with full-service operations in metropolitan areas worldwide. The Company 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 name and provides development services under the Trammell Crow brand name. As of December 31, 2008, excluding affiliate offices, it operated in more than 300 offices worldwide. The Company operates through five segments: Americas, Europe, Middle East and Africa (EMEA), Asia Pacific, Global Investment Management and Development Services. In February 2008, the Company announced the acquisition of Eurisko Consulting SRL, an independent commercial real estate services company in Romania. In February 2008, the Company also announced the acquisition of its affiliate company in Denmark, CB Richard Ellis Cederholm A/S.

CB Richard Ellis Group, Inc. is a holding company that conducts all of its operations through its indirect subsidiaries. In the Americas segment, of advisory services and outsourcing services operations are conducted through its indirect wholly-owned subsidiary CB Richard Ellis, Inc. The mortgage loan origination and servicing operations are conducted through indirect wholly-owned subsidiary operating under the name CBRE Capital Markets and its subsidiaries. The operations in Canada are primarily conducted through the indirect wholly-owned subsidiary CB Richard Ellis Limited. In EMEA, segment, operations are conducted through a number of indirect wholly-owned subsidiaries, which include CB Richard Ellis Ltd. (the United Kingdom), CB Richard Ellis Holding SAS (France), CB Richard Ellis SA (Spain), CB Richard Ellis GmbH (Germany), CB Richard Ellis, B.V. (the Netherlands), CB Richard Ellis LLC (Russia) and CB Richard Ellis SpA (Italy). In the Asia Pacific segment, operations are primarily conducted through a number of indirect wholly-owned subsidiaries, including CB Richard Ellis Pty Ltd. (Australia), CB Richard Ellis Ltd. (New Zealand), CB Richard Ellis Ltd. (Hong Kong and China), CB Richard Ellis Korea Co Ltd. (Korea) and CB Richard Ellis Pte Ltd. (Singapore) as well as a majority ownership in CB Richard Ellis KK (Japan) and CB Richard Ellis South Asia Pte Ltd (India). Operations in Global Investment Management segment are conducted through the indirect wholly-owned subsidiary CB Richard Ellis Investors, L.L.C. and its global affiliates, which is also refered to as CBRE Investors. Operations in the Development Services segment are conducted through indirect wholly-owned subsidiaries Trammell Crow Company, Trammell Crow Services, Inc. and certain of its subsidiaries.

The Americas

The Americas segment is CB Richard Ellis Group, Inc.'s largest segment of operations and provides a range of services throughout the United States and in metropolitan regions in Canada and selected parts of Latin America through both wholly owned operations, as well as affiliated offices. The Company’s Americas segment accounted for 62.6% of its revenue during the year ended December 31, 2008. CB Richard Ellis Group, Inc. organizes its Americas segment into two business areas: advisory services and outsourcing services. Within advisory services, the Company's major service lines are real estate services, capital markets and valuation.

CB Richard Ellis Group, Inc. provides advice and execution to owners, investors and occupiers of real estate in connection with leasing, disposition and acquisition of property. During 2008, the Company advised on approximately 29,000 lease transactions and approximately 4,600 real estate sales transactions. The Company provides valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility and fairness opinions. CB Richard Ellis Group, Inc.'s valuation business has developed technology for preparing and delivering valuation reports to its clients. During 2008, the Company completed over 30,000 valuation, appraisal and advisory assignments.

The Company’s Outsourcing Services business includes two business lines: corporate services and asset services. As of December 31, 2008, the Company managed over 1.1 billion square feet of commercial space for property owners and occupiers. Its outsourcing services business line accounted for 28% of its 2008, consolidated revenue. The Company provides a suite of services, including transaction management, project management, facilities management, strategic consulting, portfolio management and other services. CB Richard Ellis Group, Inc. provide property management, construction management, marketing, leasing, accounting and financial services on a contractual basis for income-producing office, industrial and retail properties owned by local, regional and institutional investors. It provides these services through a network of real estate experts in major markets throughout the United States.

Europe, Middle East and Africa

CB Richard Ellis Group, Inc.'s operates in 37 countries, with its operations located in the United Kingdom, France, Germany, Spain, the Netherlands, Russia and Italy. The services provided by the EMEA segment include brokerage, investment properties, corporate services, valuation/appraisal services, asset management services and facilities management, among others. The Company's EMEA segment accounted for 21.1% of its revenue in 2008. CB Richard Ellis Group, Inc. provides a range of commercial property real estate services to investment, commercial and corporate clients located in London. It also has 12 regional offices in Aberdeen, Birmingham, Bristol, Jersey, Leeds, Liverpool, Manchester, Edinburgh, Southampton, Belfast and Glasgow. In France, it provides a range of services to the commercial property sector. In Spain, the Company provides full-service coverage through its offices in Madrid, Barcelona, Zaragoza, Valencia, Malaga, Marbella and Palma de Mallorca. Its German operations are located in Berlin, Cologne, Düsseldorf, Frankfurt, Hamburg, Munich and Stuttgart. CB Richard Ellis Group, Inc operations in the Netherlands are located in Amsterdam, Hoofddorp and the Hague. Additionally, it provides some residential property services in United Kingdom, France and Spain. It also has affiliated offices that provide commercial real estate services under its brand name in several countries throughout Europe, the Middle East and Africa.

Asia Pacific

CB Richard Ellis Group, Inc.'s Asia Pacific segment operates in 11 countries. The Company’s principal operations in Asia are located in China, Hong Kong, India, Japan, Singapore and South Korea . During 2007, the Company established a majority- owned operation in India through the acquisition of shares in CB Richard Ellis South Asia Pte Ltd or CBRE India, its former affiliate. In addition, it has agreements with affiliated offices in the Philippines, Thailand, Indonesia and Vietnam that generate royalty fees and support cross-referral arrangements on terms similar to those with its affiliated offices in its EMEA segment. The Pacific region includes Australia and New Zealand, with principal offices located in Adelaide, Brisbane, Canberra, Melbourne, Sydney, Perth, Auckland, Wellington and Christchurch. The Asia Pacific segment accounted for 10.9% of the Company’s 2008, revenue.

Global Investment Management

The Company's wholly owned subsidiary, CB Richard Ellis Investors, L.L.C. and its global affiliates, provide investment management services to client/partners that include pension plans, foundations and endowments. It sponsors investment programs that span the risk/return spectrum across three continents: North America, Europe and Asia. CB Richard Ellis Group, Inc.'s Global Investment Management segment accounted for 3.1% of its revenue in 2008.

Development Services

CB Richard Ellis Group, Inc.'s wholly owned subsidiary, Trammell Crow Company and certain of its subsidiaries, provides development services primarily in the United States to users of and investors in commercial real estate, as well as for its own account. Trammell Crow Company pursues development and investment in commercial real estate across a spectrum of property types, including industrial, office and retail properties; healthcare facilities of all types (medical office buildings, hospitals and ambulatory surgery centers); higher education facilities, primarily student housing; and residential/mixed-use projects. Its Development Services segment accounted for 2.3% of the Company’s 2008, revenue. Trammell Crow Company acts as the manager of development projects, providing services in all stages of the process, including site identification, due diligence and acquisition; evaluating project feasibility, budgeting, scheduling and cash flow analysis; procurement of approvals and permits, including zoning and other entitlements; project finance advisory services; coordination of project design and engineering; construction bidding and management and tenant finish coordination, and project close-out and tenant move coordination.

The Company competes with Cushman & Wakefield, Jones Lang LaSalle and Grubb & Ellis.