Los Angeles-based Westmark Realty Advisors on Monday said it changed its name and organizational structure.
The real estate investment firm has been renamed CB Richard Ellis Investors, a reflection of the April merger of its parent company, Los Angeles-based CB Commercial, and London-based REI Ltd.
CB Richard Ellis Investors, which manages an investment portfolio valued at about $4.5 billion, has been reorganized into several independent operating units that include its traditional advisory business and a securities management company. In addition, the firm will create new units, including a real estate investment trust focused on domestic corporate properties and investment funds involved in European and Asian real estate.
"Our continued top priority is our existing client relationships, and this new structure will expand the menu for them while focusing our service," said Bob Zerbst, who heads the real estate investment firm.