CB Richard Ellis Group to Acquire Majority of ING Group N.V.'s Global Real Estate Investment Management Businesses for $940M

CB Richard Ellis Group, Inc. CBG today announced that it has entered into definitive agreements to acquire the majority of the real estate investment management business of Netherlands-based ING Group N.V. (NYSE ING) for approximately $940 million in cash. The acquisitions include substantially all of the ING Real Estate Investment Management (ING REIM) operations in Europe and Asia, as well as Clarion Real Estate Securities, its U.S.-based global real estate listed securities business. CB Richard Ellis will not acquire ING's U.S.-based private market real estate investment management company.