It’s official: Real estate services firm CB Richard Ellis Group (NYSE:CBG) is officially part of the Standard & Poor’s (S&P) 500 Index.
The S&P 500 is a representative sample of leading companies in major industries of the U.S. economy. CB Richard Ellis is the only commercial real estate services firm included in the index. The announcement comes two weeks after CBG announced plans to buy real estate services firm Trammel Crow for $2.2 billion. The was rumored for months.
“We are pleased to be recognized among the premier business services companies in the U.S.,” says Brett White, President and chief executive officer of CB Richard Ellis. “We have achieved a consistent record of growth and strong performance built on a commitment to superior client service. This has led us to a leadership position in commercial real estate markets around the world.”