30 Jun 2022

CBRE Group, Inc. Acquires New Zealand Valuation & Advisory Services Firm

Auckland – June 30, 2022 – CBRE Group, Inc. has finalised the acquisition of TelferYoung Limited, New Zealand’s largest independent property valuation and advisory firm.

TelferYoung employs approximately 200 staff in 20 New Zealand offices, providing valuation and advisory services across rural, residential, industrial, commercial, retail and infrastructure assets.

The union almost doubles the size of CBRE’s New Zealand staff and brings together the complementary strengths of the companies’ valuation teams and resources to provide a full suite of services and solutions for clients.

Andrew Stringer, Senior Managing Director, CBRE New Zealand, said, “With TelferYoung, we will diversify our footprint, client type and capability, adding a residential offering to our strong New Zealand commercial valuations business. It also provides us with capabilities in areas such as agriculture and tourism, which are mainstays of the New Zealand economy.”

Rowan Cambie, TelferYoung Board Chair, said, “Our businesses are extremely well aligned, both strategically and culturally. This integration broadens our combined market coverage and allow us to provide an expanded range of services to our clients as well as enhanced career opportunities for our people.”

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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.

Contact:

Kathryn House | +61 402 465440 | Kathryn.house@cbre.com.au