Press release
CBRE plans to acquire 60 Grader to enhance industrial & logistics capabilities in Norway
CBRE today announced it has entered into a conditional agreement to acquire 60 Grader in Norway.
October 2, 2024
Oslo – 2 October 2024 - CBRE today announced it has entered into a conditional agreement to acquire 60 Grader in Norway.
60 Grader, based in Oslo, specialises in capital markets, valuation services and leasing within the industrial & logistics sector, where it is the market leader. When completed, the acquisition will significantly strengthen CBRE’s industrial & logistics capabilities in Norway.
The planned acquisition is subject to a regulatory notification process with The Financial Supervisory Authority of Norway and is expected to be completed in the fourth quarter of this year.
Upon completion of the transaction, 60 Grader’s team of 11 professionals will join CBRE. The team will be led by Colin Waddell, Managing Director, CBRE Norway and Nordics region. Simen Torgersen, who is currently Managing Director of 60 Grader, will take on a new role at CBRE as Deputy Head of Norway Capital Markets.
Marco Hekman, CBRE Divisional President, Advisory Services, Continental Europe, said: “As the economy continues to improve, there is a significant growth opportunity within industrial & logistics and residential development. This acquisition is therefore timely to allow us to combine our teams of specialists to provide our clients with an enhanced service offering. It demonstrates our continued investment in strategic growth across Continental Europe.”
Colin Waddell, Managing Director, CBRE Norway & Nordics region, said: “The acquisition of 60 Grader will greatly enhance our Norwegian capital markets, leasing and valuation teams. The acquisition will further support our ambition in Norway. We really look forward to welcoming our new colleagues and introducing them to our clients.”
Simen Torgersen, Managing Director of 60 Grader, said: “CBRE is the global leader in commercial real estate, and we are excited about the opportunity to join their team. We look forward to working collaboratively with our CBRE colleagues to serve clients and grow our business. This will be a great opportunity for our employees to broaden their horizons in this market. Our combined expertise will allow us to offer our services to a wider range of clients.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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.
About 60 Grader
Established in 2014 by 3 senior property advisors: Amund Medbø, Rune Holmøy and Simen Torgersen. 60 Grader has been an advisor in about 200 transactions and done about 900,000 sqm industrial and logistics leasing contracts. 60 Grader has Norway’s leading industrial & logistics leasing team. 60 Grader also provides valuation of portfolios and single buildings.
Forward-Looking Statements
Certain of the statements in this release regarding CBRE’s acquisition of 60 Grader that do not concern purely historical data are forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, the further development of the market for renewable energy and the ability to successfully integrate 60 Grader into CBRE’s existing businesses in Norway, the Nordics and continental Europe, as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements and other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2023, and our Form 10-Q for the period ended June 30, 2024. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at [email protected].
60 Grader, based in Oslo, specialises in capital markets, valuation services and leasing within the industrial & logistics sector, where it is the market leader. When completed, the acquisition will significantly strengthen CBRE’s industrial & logistics capabilities in Norway.
The planned acquisition is subject to a regulatory notification process with The Financial Supervisory Authority of Norway and is expected to be completed in the fourth quarter of this year.
Upon completion of the transaction, 60 Grader’s team of 11 professionals will join CBRE. The team will be led by Colin Waddell, Managing Director, CBRE Norway and Nordics region. Simen Torgersen, who is currently Managing Director of 60 Grader, will take on a new role at CBRE as Deputy Head of Norway Capital Markets.
Marco Hekman, CBRE Divisional President, Advisory Services, Continental Europe, said: “As the economy continues to improve, there is a significant growth opportunity within industrial & logistics and residential development. This acquisition is therefore timely to allow us to combine our teams of specialists to provide our clients with an enhanced service offering. It demonstrates our continued investment in strategic growth across Continental Europe.”
Colin Waddell, Managing Director, CBRE Norway & Nordics region, said: “The acquisition of 60 Grader will greatly enhance our Norwegian capital markets, leasing and valuation teams. The acquisition will further support our ambition in Norway. We really look forward to welcoming our new colleagues and introducing them to our clients.”
Simen Torgersen, Managing Director of 60 Grader, said: “CBRE is the global leader in commercial real estate, and we are excited about the opportunity to join their team. We look forward to working collaboratively with our CBRE colleagues to serve clients and grow our business. This will be a great opportunity for our employees to broaden their horizons in this market. Our combined expertise will allow us to offer our services to a wider range of clients.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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.
About 60 Grader
Established in 2014 by 3 senior property advisors: Amund Medbø, Rune Holmøy and Simen Torgersen. 60 Grader has been an advisor in about 200 transactions and done about 900,000 sqm industrial and logistics leasing contracts. 60 Grader has Norway’s leading industrial & logistics leasing team. 60 Grader also provides valuation of portfolios and single buildings.
Forward-Looking Statements
Certain of the statements in this release regarding CBRE’s acquisition of 60 Grader that do not concern purely historical data are forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, the further development of the market for renewable energy and the ability to successfully integrate 60 Grader into CBRE’s existing businesses in Norway, the Nordics and continental Europe, as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements and other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2023, and our Form 10-Q for the period ended June 30, 2024. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at [email protected].
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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.