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Wednesday, 11 December

Home and Away - CBRE Buys United, HSS Hire Builds Float, Balfour Beatty Builds Family Ties

CBRE has bought Dallas based commercial real estate firm United Commercial Realty which manages retail properties for institutional investors and brokerage services for retailers across Texas and other markets.

Michael Caffey, executive managing director of CBRE's Texas region, said: "The UCR professionals are a wonderful addition to our team in Texas and our national retail brokerage and property management business. They fit perfectly into our culture and will enable us to expand the range of services we can provide to retail clients."

UCR provided leasing, property management, asset management and investment sales services for retail investors and tenants. The company manages eight million square feet of retail properties in the United States, and UCR and its urban leasing division serve as leasing agent for 20 million square feet of shopping centers nationally.

 

HSS Hire

HSS Hire (the second largest British tool and equipment rental firm) is said to be offering a quarter of its shares in a floatation to raise £100m - but most of this will go to pay-off £200m of debt. CEO Chris Davies told the financial press on Monday: “The listing will put our leverage position in a state that will enable us to invest more in the company by lowering interest payments.” Tool hire to the FM market is a strong factor in Davies' optimism that his company can climb out of the recession blues quickly.

 

Balfour Beatty Communities

Balfour Beatty Communities has expanded its 'multifamily' operations in Florida. In the USA, Balfour Beatty Communities, LLC is well known as a diversified real estate services company delivering development, design, financing, construction, renovation, property and facilities management services in the multifamily, student and military housing sectors. It has more than 43,000 residential units and $5.7 billion in real estate assets under management. It has developed or renovated more than 29,000 units with a total value of close to $4 billion. It is a subsidiary of Balfour Beatty Investments, Inc. part of Balfour Beatty plc.

This week, the company has been appointed to deliver property management services for 334 homes in Sarasota, Florida.

One of the locations is Bellasol Apartments where there are one and two-bedroom flats and villas with a variety of community amenities, including two pools, a playground and sand volleyball court. Balfour Beatty Communities' services include marketing, leasing and maintenance.

 

Picture: A recently opened HSS Store

Article written by Brian Shillibeer

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