CBRE ARRANGES SALE OF HIGH-RISE DEVELOPMENT OPPORTUNITY ON BISCAYNE BAY

    CBRE ARRANGES SALE OF HIGH-RISE DEVELOPMENT OPPORTUNITY ON BISCAYNE BAY

    Fort Lauderdale, FL – May 14, 2013 – (RealEstateRama) — May 14, 2013 – CBRE arranged the sale of a two-acre waterfront development site on Biscayne Bay. The property known as Midtown Bay, at 475 NE 32nd Street and 3117 NE 7th Avenue in Miami, FL, was acquired by AXA Strategic Management for an undisclosed amount that included initial cash consideration of $20 million

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    CBRE

    CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.

    Contact:

    Robert W. McGrath
    Senior Director, Corporate Communications

    +1 212 9846515
    +1 800 7996523 FREE

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