ATLANTA-CBRE has snapped up a leading Atlanta-based commercial real estate services. The acquisition immediately adds CBRE additional 13 million square feet of office and industrial space to its Southeast Region's property-management portfolio. Financial terms of the deal were not disclosed.

The decision to buy out Resource Real Estate Partners LLC and TPA Realty Services LLC—known in the industry as “RREP/TPA”—gives CBRE's a management portfolio that spans about 40 million square feet in Atlanta. That's a huge spark CBRE's efforts to expand its presence in the fast-growing northeast Atlanta market.

“This transaction nicely complements our capabilities in Atlanta and further strengthens our market-leading position in the region,” says John Ferguson, executive managing director of CBRE's Southeast Region. “In particular, through this acquisition, we have significantly enhanced our service offerings in the northeast Atlanta submarket, where we see opportunities to drive even further growth.”