Bob Sulentic
Los Angeles—CBRE Group has launched a Covid-19 relief fund that will provide assistance to communities and the company's employees worldwide.
Plans call for raising a minimum of $15 million for the relief fund, with CBRE kicking in a $10 million donation supplemented by an employee donation program. CBRE will match employee donations on a dollar-for-dollar rate, or at a higher rate if necessary, to meet the $15 million minimum funding goal.
The CBRE Covid-19 relief fund will support organizations that provide frontline health care workers with personal protective equipment and essential medical supplies, that alleviate hunger as a result of the pandemic, or address "pressing local needs around the world based on employee input."
Additionally, the company will direct $5 million of the relief fund to aid employees who are facing financial hardship due to Covid-19. The assistance will include grants of up to $500 for food or other immediate needs, or payments of up to $2,500 for other needs such as transportation, rent or mortgages, utilities,childcare, health care or funeral expenses.
The company's employees are the "heart of CBRE," Bob Sulentic, the company's president and CEO, said in prepared remarks.
"Now's the time for us to rally together to support one another and especially our colleagues who have fallen on hard times," Sulentic said.
The company has more than 100,000 employees worldwide, excluding affiliates.
In another part of the fundraising program, CBRE will contribute $100 to designated local charities for each unit of blood donated by its employees.
The fundraising campaign is the largest ever for CBRE, which is the world's largest commercial real estate services and investment firm. It will be operated through the CBRE Foundation.
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Brenda Sapino Jeffreys
Senior reporter Brenda Sapino Jeffreys covers the business of law in Texas. Contact her at [email protected] On Twitter: @BrendaSJeffreys
