LOS ANGELES—CBRE Group Inc. says it is in discussions with lenders about the potential of adding a $300 million tranche of term loans under its existing credit agreement. CBRE expects that it would draw down this new term loan facility on or prior to the closing of its previously announced acquisition of the Global Workplace Solutions business of Johnson Controls Inc.
The closing of the acquisition is subject to customary regulatory approvals and other customary closing conditions and is expected to occur in the late third quarter or early fourth quarter of 2015.
CBRE Group Inc. is a Fortune 500 and S&P 500 company headquartered in Los Angeles, and is the world's largest commercial real estate services and investment firm (in terms of 2014 revenue). The company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
