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CB Richard Ellis and PropertyFirst.com Announce New Agreement
All 1,500 U.S.-Based CB Richard Ellis Brokers are Now Members of
PropertyFirst
LOS ANGELES, CA -- (March 5, 2001) -- CB Richard Ellis (NYSE:CBG, Research, SEC Filings) and PropertyFirst.com have executed a new agreement under which all CB Richard Ellis brokers based in the U.S. have become members of PropertyFirst.com. CB Richard Ellis is the largest commercial real estate services company in the world. PropertyFirst.com provides technology, marketing and information services that make the Web work for commercial real estate professionals.
Under the new agreement, CB Richard Ellis brokers will use PropertyFirst’s
for-sale and for-lease systems to market their properties. As part of
PropertyFirst membership, brokers are able to utilize the company’s
lead-generation tools, which identify and connect sellers’ representatives
with buyers interested in similar properties, as well as connect landlords
and tenants. Also, brokers can create online, customized property marketing
packages with unlimited attachments, such as demographic information or
Argus files. Additionally, PropertyFirst’s for-sale marketplace allows for
controlled-access marketing; a broker can choose to make a listing public,
private or confidential, with password-protected access.
As a result of the new agreement between PropertyFirst and CB Richard Ellis,
it’s expected that all CB Richard Ellis properties for sale and lease in the
U.S. will be listed in the PropertyFirst.com marketplace.
In 1999, CB Richard Ellis completed over 30,000 sale and lease assignments,
with an aggregate consideration value of approximately $48 billion. The
company placed over $6 billion of commercial debt and $22 billion of equity.
John Stanfill, President and CEO of PropertyFirst, said, “Our expanded
agreement with CB Richard Ellis reflects positively on the reach of the
PropertyFirst.com marketplace and the functionality of our property
marketing tools. We’re excited to help CB Richard Ellis get their
properties in the market faster, close transactions faster and reduce their
marketing costs.”
The PropertyFirst.com marketplace currently includes more than 11,500
properties for sale, with a consideration value of over $40 billion, and
13,700 spaces for lease. The PropertyFirst.com website generates four
million hits per month.
About CB Richard Ellis
CB Richard Ellis is an international real estate services company.
Headquartered in Los Angeles, with 10,000 employees worldwide, the company
serves real estate owners, investors and occupiers through some 250
principal offices in 44 countries. Services include property sales and
leasing, property management, corporate services and facilities management,
mortgage banking, investment management, capital markets,
appraisal/valuation, research and consulting. CB Richard Ellis had 2000
revenues of $1.3 billion.
About PropertyFirst.com
PropertyFirst.com provides technology, marketing and information services
that make the Web work for commercial real estate professionals. The
company helps over 2,000 firms and 28,000 users market commercial real
estate, manage property information and workflow, create property websites
and connect with each other across the Internet. PropertyFirst clients are
leading commercial real estate owners, brokers, investors and service
providers; they rely on the company’s platform, marketplace and services to
accelerate transactions, reduce transaction and marketing costs, increase
efficiencies and opportunities, increase business volume and expand their
reach.
Based in Alhambra, Calif., in Los Angeles County, PropertyFirst has
strategic alliances with the Appraisal Institute and MortgageRamp.com, and
client relationships with firms such as CB Richard Ellis, Cushman &
Wakefield, AMB Property Corp., RREEF, The CORE Network and Transwestern
Commercial Services.