CBRE Group To Buy German Technical Real Estate Consulting Firm VALTEQ

(RTTNews) - CBRE Group, Inc. (CBG), a commercial real estate services and investment firm, announced Thursday that it has entered into a definitive agreement to acquire VALTEQ Gesellschaft mbH and its units. The terms of the deal were not disclosed.

VALTEQ, founded by its current owners, Thomas Herr, Gabriele Lüft and Jürgen Scheins, is a technical real estate consulting firm in Germany. The firm has offices in Berlin, Stuttgart, Frankfurt, Munich and Nuremberg.

The company expects the acquisition to close before the end of the first quarter, is subject to German regulatory approval.

Upon closing of the acquisition, VALTEQ will become a fully integrated part of CBRE's Building Consultancy group in Germany and across Europe.

Michael Strong, CBRE's Executive Chairman of Europe, Middle East and Africa, said, "VALTEQ will give us a new service proposition in Germany that complements our existing offering in that country as well as in our EMEA building consultancy business as a whole."