CBRE Group, Inc. Acquires Leading Australian Healthcare Project Advisory and Management Firm
Los Angeles | May 1, 2017 – CBRE Group, Inc. (NYSE:CBG) today announced that it has acquired Aurora Projects Pty Limited (Aurora), a leading project advisory and management company in Australia. The acquisition significantly strengthens CBRE’s position as a leader in corporate real estate services in the Pacific (Australia and New Zealand) region.
Aurora’s team of 31 professionals in Sydney and Perth will be integrated within CBRE’s existing Project Management division in the Pacific. The combined operation will employ a staff of 105 Project Management professionals with broad and deep capabilities.
Led by Malcolm Naylor and Jo Thorley, Aurora has provided a range of consultancy services for over 20 years.
Aurora has a significant healthcare focus and has undertaken major advisory and project management work for clients in this sector in all Australian states. The firm has also developed strong capabilities in the higher education sector.
Ray Pittman, President and CEO of CBRE’s Australian & New Zealand operations, said the acquisition reflected the company’s continued focus on the growth of its occupier outsourcing business (Global Workplace Solutions) and ongoing strategy to diversify into new growth areas.
“We will now be able to provide a more diversified, first-class service offering to clients in Australia and New Zealand given Aurora’s reputation and track record as a market leader in the very specialized areas of health and higher education project management,” Mr. Pittman said.
Rhys Harvey, the Senior Managing Director of CBRE’s Pacific Global Workplace Solutions business, added; “The quality of Aurora’s people and their trusted client relationships will further strengthen our offering at a time of considerable growth in the Australian healthcare sector. In turn, we can provide Aurora’s clients with access to our broad service offering and reach around the world.”
Ian Rea, Managing Director of CBRE Project Management, will lead the integrated team with Ms. Thorley and Mr. Naylor assuming responsibility for health and higher education clients, respectively.
Ms. Thorley said CBRE’s global capabilities in the healthcare sector was a key attraction, allowing Aurora to enhance its expertise with a company recognized as a market leader in the development of complex capital health projects in the U.S.
“The strength of the CBRE brand will enhance our ability to continue to cultivate sustainable client relations in both the health and higher education sectors and, importantly, it will enable us to offer our staff superior career opportunities,’’ Mr. Naylor added.
Aurora’s significant assignments include the oversight of WA Country Health Service’s $1.8+ billion program of capital works projects together with project management of $1.4 billion of major public hospital capital works projects in New South Wales. Aurora is also involved in several complex and long term projects for Macquarie University.
Certain of the statements in this release regarding the acquisition of Aurora Projects Pty Limited (Aurora) 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 successfully integrate Aurora with our existing operations in Australia, 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 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 [email protected]
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.
SOURCE: CBRE Group, Inc.