West L.A. Real Estate Firm Checks Into Investing
Los Angeles Business Journal
By Joel Russell
... In the cloudy skies of commercial real estate, CB Richard Ellis Group Inc. sees a ray of sunshine - in the investment banking sector...
... Stan Ross, chairman of the USC Lusk Center for Real Estate, agreed that commercial real estate companies need services right now. He said CB Richard Ellis will face competition for that market, but that it's in a leadership position due to its expertise in real estate matters. "There are a lot of companies going into this space, so CB Richard Ellis will have a lot of competition," Ross said. "A conventional real estate brokerage doesn't generate a lot of revenue these days, while a restructuring consultancy does. Combine that expertise with a company that can bring capital, marketing and leasing capabilities to the deal, and they have a lot to offer. "So far, investors have responded positively. After the news was announced Oct. 21, CB Richard Ellis stock jumped 2.2 percent to $13.26. The following day it rose an additional 2.7 percent to $13.62, a high for the year...