Broll Property Group’s international partner, CB Richard Ellis enjoys record results

Posted On Thursday, 06 March 2008 02:00 Published by
Rate this item
(0 votes)
The world’s largest Property Services Company, CB Richard Ellis (CBRE), which is the international partner of South Africa’s commercial real estate giant Broll, has reported a sterling set of financial results with its global revenue up by 50%

Broll is a multi-disciplinary commercial property services company with nearly 35 years in the property industry. Its services include property and facilities management as well as broking, valuations, consultancy and Investment services to the retail, office and industrial markets.

 “We are extremely proud of our association with CBRE and the record growth achieved by the company is a reflection of the expertise, experience and industry leading intelligence which it holds worldwide,” notes Broll director, Ken Gerber.

CB Richard Ellis EMEA Results Commentary:


2007 was another year of record growth for CB Richard Ellis, posting impressive gains in both year-on-year revenue and profitability. Global revenue was up 50% from 2006 at $6.0 billion, and EBITDA was $834million, up 28% year-on-year. Despite more challenging market conditions towards the end of the year, global revenue still increased by 30% in Q4.


It was also another record year for the company’s Europe, Middle East and Africa (EMEA) region, which reported revenue growth of 41% for the year, driven by market share gains across the region, notably in Capital Markets, Valuation and Corporate Services.  For 2007, EMEA EBITDA was $261 million, up 38% on 2006.

Revenue growth was driven by strong performances in virtually every country and in particular, in the major markets of the U.K. and Germany (both above 35%) as well as France and Spain (both above 60%).  

Mike Strong, Chairman and CEO of EMEA, said: “We are particularly pleased that measured by every metric, we improved our overall performance and market share in 2007, and despite a tightening market environment, we maintained our high net operating margin of around 20%. Our EMEA business is now well diversified both geographically and by sector, and our results in 2007 are testament to the broad service offering we are able to offer our clients.”


2007 Highlights



  • Full year global revenue up 50% to $6 billion, Q4 global revenue up 30% despite credit crunch.


  • Grew revenues 41% in 2007, more than any major competitor adding nearly $400m
  • Maintained market leading operating margin of 20% despite tougher market climate


  • Selected by Oracle Corporation as the preferred commercial EMEA real estate services provider for its 3.8 million sq ft EMEA portfolio comprising 120 properties in 59 countries. 
  • Advised Banco Santander on the sale/leaseback of its 1,200-property portfolio in Spain, the largest ever carried out in the Spanish market.  The entire portfolio was sold for US$6.5 billion (US$3.7 billion worth of properties sold in Q4)
  • Advised SEB (Skandinaviska Enskilda Banken) on the acquisition of “Quartier Potsdamer Platz “in Berlin, Germany for US$2 billion.  The transaction represents the largest block investment deal in Germany’s history.
  • Awarded the mandate to sell former Union Bank BAWAG-PSK’s coveted 1.5 million sq ft Austrian real estate portfolio in partnership with NAI Otto Immobilien.  On completion will be the largest Austrian commercial property portfolio ever sold.
  • Advised on the sale of the Covent Garden office development in Belgium. At a price of $432 million (€300 million), the sale is the largest single asset transaction ever recorded in Belgium.
  • Advised Philips Pension Fund on the sale of the largest retail portfolio in the Netherlands in 2007.
  • Appointed to advise on the sale of the Royal Bank of Scotland’s US$1.8 billion hotel portfolio, comprising The Waldorf, London; The Cumberland, London; the Park Inn, Heathrow; and the Victoria and Albert, Manchester.

Publisher: eProp
Source: Broll/CB Richard Ellis

Most Popular

Residential sectional title sales again on the rise

May 27, 2021
Over the past 15 years, the sectional title market in South Africa has become entrenched…

Ongoing property market uncertainty makes the right finance partner key to extracting value

May 26, 2021
Claire Denny
Results from the listed property sector in 2020 showed property values reducing by an…

Pick n Pay and Fortress co-invest in a super distribution centre development

May 26, 2021
Fortress REIT announced that their biggest logistics development to date was signed with…

Exemplar REITail declares final dividend of 49.07 cps and announces 100% distribution

May 25, 2021
Mall of Thembisa
Rural and township retail specialists, Exemplar REITail, have declared a final dividend…

East Rand Mall will soon deliver the first phase of its major taxi rank upgrade

May 26, 2021
Phase 1 upgrade to the taxi rank at EastRand Mall
The first-phase upgrade of East Rand Mall taxi rank in the retail heart of Boksburg,…

Please publish modules in offcanvas position.