CB Richard Ellis Group, headquartered in Los Angeles, has acquired majority interest in its India affiliate company CB Richard Ellis South Asia (popularly called CBRE India). The acqusition involves taking over services and operations in 30 Indian cities across the rapidly growing India realty market. CBRE India has been an affiliate of CB Richard Ellis in India since 1994, and has executed more than 22 million square feet of leasing transactions and about 30 million square feet in project management assignments. The company also manages 40 million square feet of commercial properties and corporate facilities.CBRE India has handled lease transactions for global companies including Goldman Sachs, Cisco Systems, McAfee and JPMorgan Chase and Hewlett-Packard. Anshuman Magazine, chairman and managing director, CBRE India said: "CB Richard Ellis is a leader in commercial real estate, and our new status as a majority-owned operation will enable us to better tap into a wealth of resources and the industry's most extensive and capable global platform. We are very enthusiastic about the move, and look forward to expanding the range of services we can offer our clients in India and around the world."
