CBRE Group, Inc. (NYSE: CBRE) today announced that it has acquired the San Antonio operations of Peloton, a leading full service commercial real estate firm in Texas. The acquisition makes CBRE the leading provider of commercial property leasing, sales and management services in the growing San Antonio market.
In 2017, CBRE and Peloton’s San Antonio operations combined completed $681 million of sales and leasing transactions and currently manage and/or lease over 20 million sq. ft. of commercial property in the San Antonio market.
“The combination of CBRE and Peloton creates San Antonio’s top real estate services brand, which will deliver superior results for our clients and expanded opportunities for our professionals,” said Michael Caffey, President of the Texas and Oklahoma Division and Latin America, CBRE.
Peloton in San Antonio is led by Gardner Peavy, who joins CBRE as Managing Director for San Antonio. He will be joined by 26 colleagues from the Peloton San Antonio operations. Mr. Peavy will report to Scott Senese, who leads CBRE’s Austin and El Paso operations. The combined workforce of the two companies totals nearly 300 employees in San Antonio.
"We are extremely excited about what the combined operations represent in the San Antonio market--a broad and deep offering for our current and future clients utilizing some of the most talented service providers in the area,” said Mr. Peavy. “Timing could not be better, as San Antonio continues to be a real estate market of new focus and growth."
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. 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. Please visit our website at www.cbre.com.
Forward-Looking Statements
Certain of the statements in this release regarding the acquisition of the San Antonio operations of Peloton and the business outlook for the San Antonio market that do not concern purely historical data are forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, our ability to successfully integrate Peloton with our existing operations in Texas, as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements and other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2017 and Form 10-Q for the quarter ended June 30, 2018. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at investorrelations@cbre.com.
