CBRE Group, Inc. Agrees to Acquire New Zealand Valuation & Advisory Services Firm

CBRE Group, Inc. today announced that it has entered into a definitive agreement to acquire TelferYoung Limited, New Zealand’s largest independent property valuation and advisory firm.

TelferYoung employs approximately 200 staff in 14 New Zealand offices, providing valuation and advisory services across rural, residential, industrial, commercial, retail and infrastructure assets.

The union will almost double the size of CBRE’s New Zealand staff and bring together the complementary strengths of the companies’ valuation teams and resources to provide a full suite of services and solutions for clients.

Andrew Stringer, Senior Managing Director, CBRE New Zealand, said, “With TelferYoung, we will diversify our footprint, client type and capability, adding a residential offering to our strong New Zealand commercial valuations business. It will also provide us with capabilities in areas such as agriculture and tourism, which are mainstays of the New Zealand economy.”

Rowan Cambie, TelferYoung Board Chair, said, “Our businesses are extremely well aligned, both strategically and culturally. This integration will broaden our combined market coverage and allow us to provide an expanded range of services to our clients as well as enhanced career opportunities for our people.”

The transaction is subject to customary closing conditions and is expected to be completed later in the second quarter.

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