CB Richard Ellis Buys Control of IKOMA
From Bloomberg News
CB Richard Ellis Group Inc. acquired control of its Japanese affiliate to take advantage of the recovering Tokyo property market.
Los Angeles-based CB Richard Ellis would not disclose the purchase price for IKOMA. The company increased its interest to 51% from 20%.
IKOMA is the largest provider of commercial real estate services in Japan. CB Richard Ellis said it planned to use the company as a base for expanding in Asia.
In 2004, IKOMA completed leasing and investment transactions valued at about $885 million and managed more than 9 million square feet of properties.
