CBRE Group INC acquires leading Australian healthcare project advisory and management firm
CBRE Group, INC. acquires leading Australian healthcare project advisory and management firm
| 1 May 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.
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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 more than 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.