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HOUSTON-L.J. Melody & Co. has changed its name, effective immediately, to CBRE/Melody, in a further effort to integrate and assimilate the affiliate with its parent company, CB Richard Ellis Inc.
A source with CBRE/Melody tells GlobeSt.com that the immediate name change is not reflective of any type of organizational restructure or buyout but rather, to take advantage of the internationally known and recognized Los Angeles-based parent's brand name here and abroad. Nor is there a chance the Melody name will disappear at any point, as time passes, because it's so well-known in real estate circles.
Brian Stoffers, executive managing director and COO of CBRE/Melody and president of CBRE Capital Markets, indicates that the mortgage banker's name change also represents "part of the integration of the Melody platform and CBRE's Investment Properties operations into CBRE Capital Markets."
Another reason for the change, notes the CBRE/Melody source, is to heighten recognition of Melody overseas, especially in Europe. Melody already has a strong relationship with the CBRE London office. The plan is to continue strengthening that and similar relationships to become a fairly strong global presence, the source stresses.
Founded in 1978 with six employees, L.J. Melody was acquired in 1996 by the former CB Commercial. Since that time, Melody has grown nationally through various acquisitions such as Fogelman Beaty of Memphis, Boston Mortgage Co., Insignia/ESG and a joint venture with GE Capital, to form GEMSA Loan Services LP. CBRE/Melody today employs about 300 people.
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