CBRE Buys German Consulting FirmThursday, January 30, 2014
CBRE Group Inc. of downtown Los Angeles announced Thursday it has acquired Valteq Gesellschaft, a German real estate consulting firm.
Valteq specializes in technical and environmental due diligence for commercial real estate transactions. The firm also provides asset management, project management and facilities management services.
Valteq’s clients include real estate investors and tenants, many of them in the financial industry. The company has about 60 employees in its offices in Berlin, Stuttgart, Frankfurt, Munich and Nuremberg. Valteq will be integrated into CBRE’s building consultancy group in Germany. Terms of the deal were not disclosed.
Peter Schreppel, chief executive at CBRE Germany, said the deal will expand the company’s services.
“We are delighted with the Valteq acquisition, which will diversify and expand our service offerings in Germany,” Schreppel said in a statement.
CBRE shares closed down two-thirds of a percent to $26.72 in Thursday trading on the New York Stock Exchange.