CBRE Pays $480M For European Property Management Group

Law360, New York (November 14, 2013, 5:42 PM EST) -- CBRE Group Inc. on Tuesday said it will acquire commercial building technical engineering services provider Norland Managed Services Ltd. for about $480 million, in a move designed to increase CBRE's reach in properties in the United Kingdom and Ireland.

CBRE said in a statement that most of the $480 million will be paid in cash, with around $9 million payable in CBRE common stock. The company said the acquisition will allow it to perform building technical engineering services — which include the upkeep of things like...
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