Commercial real estate services and investment firm CBRE has acquired IVI International, a construction, property condition and environmental consulting company, according to a press release issued by CBRE.
In a prepared statement, CBRE noted that IVI International, founded in 1973 and based in White Plains, N.Y., has provided consulting services to lenders and equity investors on more than $50 billion of real estate projects around the world. The firm’s high-profile domestic projects include the Wynn Las Vegas, the Time Warner Center, One57 and the Empire State Building. The firm has also done work throughout South America, Europe and Asia.
“IVI has a 40-plus-year record of providing insight and analysis that helps investors, lenders and occupiers manage risk,” said Thomas B. McDonnell, the president of Americas Valuation & Advisory Services at CBRE, in prepared remarks. “Adding IVI’s accomplished team to our existing capabilities provides a highly sought after service that we can now offer our investor, developer and lender clients throughout the country.”
CBRE believes the acquisition will complement and enhance the expertise of its company’s existing Valuation and Advisory Services team, including Assessment & Consulting professionals, in the Americas.
“Joining CBRE is a big win for both our clients and employees. CBRE affords us a significantly broader platform – both geographically and across an array of services – to serve our clients, and our people will have enhanced career development opportunities as we integrate with CBRE’s professionals across the country and around the world,” said Mark de Stefanis, the director of business operations of IVI, in prepared remarks.
A CBRE spokesman declined to disclose the price of the acquisition.
CBRE is one of the world’s largest real estate firms, with 44,000 employees worldwide.