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OUR COMPANY AFFILIATES

CBRE GROUP

CBRE Group, Inc. is the world’s largest commercial real estate services and investment firm, with 2020 revenues of $23.8 billion and more than 100,000 employees (excluding affiliate offices). CBRE has been included on the Fortune 500 since 2008, ranking #122 in 2021. It also has been voted the industry’s top brand by the Lipsey Company for 20 consecutive years, and has been named one of Fortune’s “Most Admired Companies” for nine years in a row, including being ranked number one in the real estate sector in 2021, for the third consecutive year. Its shares trade on the New York Stock Exchange under the symbol “CBRE.”

CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.

INVESTMENT SERVICES

CBRE Global Investors, combined with CBRE Clarion Securities and CBRE Caledon, is one of the world’s leading real asset investment managers with $124.5 billion in assets under management.

Built up over more than 40 years, our unparalleled platform is focused on real assets, giving our institutional clients access to real estate and infrastructure in the Americas, Europe and Asia Pacific. Our clients benefit from a complete range of investment solutions including equity and debt, direct and indirect, and listed and unlisted strategies.

Trammell Crow Company, founded in Dallas, Texas in 1948, is one of the nation’s oldest and most prolific developers of, and investors in, commercial real estate.The CBRE Global Investors and Trammell Crow Company platforms make up the Real Estate Investments division of CBRE Group.

The Real Estate Investments division is led by
Mike Lafitte, Global CEO, Real Estate Investments.

BLOGS

Regularly released content on the state of the real estate and infrastructure industry are produced by our subject matter experts and shared on their blogs. A selection of them can be found below.

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Column by Andrew Angeli, Head of European Real Assets Research

Reflections from the Past Year and How COVID-19 has Changed the Real Estate Landscape

Andrew Angeli

Head of European Real Assets Research

Views 1159 times

Approaching the annual marker of when a novel virus upended life as we knew it, I am drawn to introspection. As I continue to whittle away in my hermitage, I am reminded that it’s been more than a year since I have put on a tie, set foot in the Square Mile or checked into a hotel. I suspect your experience bears some resemblance. Sure, you may have popped into the office when mobility restrictions were looser or maybe you were even lucky enough to get away for some holiday respite, but surely the experiences were curious affairs.  The past year has been like no other in living memory. So, I’d like to commemorate by sharing some lockdown reflections.

The pandemic has been the great accelerator of pre-existing structural shifts across all property types. For retail, it instigated ten years of change in the span of just ten months, helping fast-track the rebasing of unsustainable rents while providing evidence to adjust values. And whilst I acknowledge the challenges still facing the sector at large, I am constructively minded about the role retail plays in people’s lives as well as property portfolios.  The pandemic has also shaped consumer behaviour, with a clear shift towards digital avenues but also homegrown alternatives. The choice of Amazon Fresh to open their first European outlet in suburban West London rather than in more central confines is testament to this. The return to local is a good thing and reinforces my view that convenience is as relevant as ever.

The initial disruption to global trade at the onset of the pandemic reminded us of the fragility of supply chains. I found it effectively impossible to source a set of kettle bells, which is remarkable really that a blob of iron can’t be forged and flogged closer to home. The inability to secure simple items became a frustratingly common experience and for those in Britain only made worse by Brexit- related trade disruption. As a result, firms accustomed to operating with lean inventories, supported by just-in-time delivery are being forced to adapt to a just-in-case model. Along with the re-shoring of production and the pronounced evolution of ecommerce, this provides a fillip to industrial and logistics demand. Still waiting on the delivery of my kettle bells, I have found other impedimenta to heave.

The continued necessity for remote working has triggered a considerable amount of prophesying about the role of the office. Provocative futurists argue for its demise while certain traditionalists have called working from home an aberration. The truth likely rests somewhere in the middle. As a result of changing workplace expectations, we see a decline in European office demand of around 10%. So, this does not suggest a mothballing of monolithic business districts, though inevitably it will transmit to rents and influence sentiment. The burden of proof is understandably higher to invest in the sector now than it was when I last left the office.

And on that note as well as echoing the views of so many, I dearly hope we can put this experience behind us. I’m ready to put on a tie and venture back into the City!