- Posted at 1:42, December 07, 2013
- By Quidnunc Staff
CBRE Group Inc. announced a big acquisition late yesterday, acquiring a major player in San Francisco commercial real estate, the CAC Group.
The 30-year-old CAC leases about 18 million square feet and manages about 11 million square feet of office space in downtown San Francisco, the greater Bay area, and in and around Seattle and Bellevue, Wash. The firm also provides real estate research.
CBRE is a Fortune 500 real estate services firm that operates worldwide, with a big presence in the New York metropolitan area, but is based in Los Angeles. The deal was announced after the close of the markets yesterday but the NYSE stock closed at 25.10, up 0.34, slightly down from its year high of 25.69.
You can see CBRE's announcement HERE.