CB Richard Ellis Continues to grow

CB Richard Ellis, the world’s largest real estate service firm, has gotten a bit bigger by expanding its Japanese interest.

CB Richard Ellis announced it has acquired a majority interest in its Japanese affiliate, IKOMA CB Richard Ellis K.K.

CB Richard Ellis has held a minority ownership interest in IKOMA since 1999. That ownership is now 51 percent, with increased ownership expected over time according to the new agreement. Currently, however, the balance will remain in the hands of IKOMA founder and president, Tatsumi Hanaya and other senior managers,

“Our increased ownership position in IKOMA fits perfectly with our strategy of achieving preeminence in all of the world’s major capitals,” said Brett White, president and CEO of CB Richard Ellis. “We also believe our investment is well timed. The Tokyo office market is clearly emerging from a pronounced downturn, with increased leasing and investment activity.”

IKOMA is a leader in the provision of commercial real estate services throughout Japan, holding the top position in the Tokyo market. – NHBR STAFF