CBRE Group, Inc. CBG has inked a deal to acquire its Oslo, Norway-based affiliate firm Atrium AS. The deal, once completed is expected to bolster the Los Angeles, CA-based commercial real estate services and investment firm’s presence in the Nordics region, providing it the opportunity to capitalize on enhanced real estate activity.
Atrium is engaged in providing investment, leasing, occupier and valuation services to clients. The company was founded in 1993 and became an affiliate of CBRE Group 7 years later. This latest deal to acquire Atrium has been made to meet the intensified demand of the clients in the Nordics for commercial real estate.
CBRE Group is engaged in offering a wide range of services to tenants, owners, lenders and investors in office, retail, industrial, multi-family and other types of commercial real estates in all major metropolitan areas across the globe. Through this acquisition, CBRE Group will be able to strengthen its presence in a prime location where both investors and occupiers are very active.
Notably, CBRE Group reported fourth-quarter 2015 earnings on Feb 03, 2016. The company reported fourth-quarter adjusted earnings of 81 cents per share, beating the Zacks Consensus Estimate of 79 cents and the prior-year quarter tally of 68 cents.
CBRE Group currently carries a Zacks Rank #3 (Hold).
Investors interested in the real estate operations and development space may consider stocks like Alexander & Baldwin, Inc. ALEX, Kennedy-Wilson Holdings, Inc. KW and Reis, Inc. REIS. While Alexander & Baldwin sports a Zacks Rank #1 (Strong Buy), both Kennedy-Wilson Holdings and Reis hold a Zacks Rank #2 (Buy).
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