CBRE Group Acquires Skye Group - Quick Facts

(RTTNews) - CBRE Group, Inc. (CBG) said it has acquired Skye Group, a provider of retail project management, shopping center development and tenant coordination services in the U.S. and Canada. Financial terms of the deal were not disclosed.

CBRE Group noted that the acquisition will enhance its position in the retail market by bolstering its retail project management service offerings. Cleveland, Ohio-based Skye is led by Bradley Sanders, who founded the firm in 2000.

Skye serves retail clients throughout North America. Its client list consists of prominent retail real estate investors including Simon, Howard Hughes, Westfield, LaSalle Investment Management, Vornado Realty Trust, New England Development, Ivanhoe Cambridge and Steiner & Associates, as well as brands such as Barneys New York.

"Skye has earned the reputation as a reliable and efficient solution for shopping center investors and occupiers. The firm's 'early stage' work for clients in project management and large-scale construction will create new client service opportunities in the retail market," Mark Fewin, Americas leader, Project Management Services, CBRE said.

Sanders will lead CBRE's retail project management business and report to Fewin. The business will operate as CBRE I Skye.