LOS ANGELES--(BUSINESS WIRE)--CBRE Group, Inc. (NYSE: CBG) today announced that the company is a founding anchor investor in Fifth Wall Ventures Management, LLC (Fifth Wall Ventures), the first significant venture capital fund entirely focused on backing promising new technologies for the built environment.
The fund closed with $212 million of capital commitments, with CBRE as the only real estate services company invested in the fund. Other Fifth Wall Ventures anchor investors include key industry players such as Equity Residential, Host Hotels, Hines, Lennar, Macerich and Prologis.
“Our active engagement in Fifth Wall Ventures will provide early insight into companies and technologies that have the potential to enhance our ability to deliver great outcomes for our clients,” said Chandra Dhandapani, CBRE’s Chief Digital & Technology Officer. “This is one vehicle, among several, that CBRE will use to identify emerging technologies, connect with top talent, build strategic partnerships and make investments that will create further competitive advantages for our clients and our company.”
“CBRE understands technology, talent and venture investing,” said Brendan Wallace, co-founder of Fifth Wall Ventures. “They moved quickly to engage with another founding investor to lead the negotiations to help establish our venture fund. Their early sponsorship of VTS/Hightower and acquisition of Floored, a top-tier innovator, impressed our team. They are also the largest, most profitable full-service commercial real estate firm in the world. With talent and scale advantage, CBRE is a perfect partner for our fund and for the companies that we invest in.”
To learn more about Fifth Wall Ventures go HERE.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
Certain of the statements in this release regarding our investment in Fifth Wall Ventures Management, LLC (Fifth Wall Ventures) that do not concern purely historical data are forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, our ability to utilize our investment in Fifth Wall Ventures to identify emerging technologies, as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements and other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2016. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at firstname.lastname@example.org.