CBRE will pay 250 million GBP for the purchase of the company and another 50 million GBP of a yearly conditional pay. The aim of the purchase is to increase the variety of services offered by CBRE to its corporate clients in Great Britain and Europe.
Norland was created in London in 1984 and offers technical engineering services to the owners and leaseholders of commercial real estate. The company specializes in qualified office spaces such as call centres or trading floors which now make up for a fast developing sectors of the market. Norland employs 4000 workers and provides services for over 300 clients in its 14 offices.
The bid is due to be finalized in 2013. Currently it's being checked by the European Commission. The financial advisor of CBRE was Bofa Merrill Lynch and legal advisors were – Simpson Thatcher & Bartlett LLP.
CBRE is the biggest counselling and investments company on the commercial real estate market in the world (taking into account the incomes for 2012). The main seat of the company is located in Los Angeles. Over 37 000 employees works in CBRE's 300 offices located worldwide. The company offers services in the area of investment and rent, corporate services, real estate and projects management, company's administration mortgage banking, evaluation, developing services, investment management and consulting and analytical services.