CBRE Group Invests $100M In Real Estate Tech Company VTS

CBRE Group Inc CBRE has made a $100 million investment in the commercial real estate technology platform VTS.
CBRE will also join VTS' Board of Directors.
It will partner with VTS to roll out the VTS Platform as the technology platform of choice for agency leasing and property management teams in the U.S.
In 2021, the VTS Platform executed over $31 billion of leases, with over 2 billion square feet of assets added.
Other investors include BentallGreenOak, AmTrust, Brookfield Ventures, and Insight Venture Partners.
"VTS is one of the most highly successful Proptech companies in the history of our sector. Their proprietary technology has redefined how industry professionals lease and manage space," said CEO Bob Sulentic.
Price Action: CBRE shares are trading lower by 0.14% at $77.03 on the last check Tuesday.