CBRE Group, Inc. reports company news across commercial real estate services, investment management and critical infrastructure services. The company serves owners, occupiers and investors through Advisory, Building Operations & Experience, Project Management and Real Estate Investments, with activities including leasing, sales, debt origination, mortgage servicing, valuations, facilities and property management, flex space, program management, cost consulting, investment management and development.
Recurring developments include quarterly results by service segment, data center and infrastructure service programs, project pipeline commentary, capital actions, shareholder voting matters and updates from CBRE Investment Management. News also covers affiliated real estate and infrastructure fund distribution notices, NAV-related disclosures and portfolio commentary when those funds report through CBRE-branded investment platforms.
The MainStay CBRE Global Infrastructure Megatrends Fund (NYSE: MEGI) has declared its monthly distribution of $0.1083 per common share for April 2023, representing an annualized distribution rate of 6.5% based on its IPO price of $20.00. The distribution schedule includes an ex-dividend date on April 21, 2023, a record date on April 24, 2023, and a payable date on April 28, 2023.
As of April 30, 2023, the current distribution is sourced primarily from net investment income, accounting for 68% of the total, while cumulative distributions for the fiscal year to date total $1.1913. It is notable that the Fund's annualized total return since inception is -5.08%.
CBRE Group, Inc. (NYSE:CBRE) has announced the appointment of Croft Young as Chief Investment Officer, effective July. Young, a seasoned investment banker with 14 years at Morgan Stanley, brings extensive M&A experience with involvement in over $175 billion in transactions, enhancing CBRE's strategic growth potential. With $4.8 billion in liquidity at year-end 2022, the firm is well-positioned for future M&A endeavors. CBRE's global Corporate Development and Strategy teams will report to Young, who previously served in the U.S. Marine Corps and holds degrees from the University of North Carolina. Bob Sulentic, CBRE's CEO, expressed enthusiasm for Young's addition due to his proven M&A track record in real estate.
CBRE Global Real Estate Income Fund (NYSE: IGR) recently concluded its transferable rights offering, which ended on April 6, 2023. The offering provided rights holders the opportunity to subscribe for up to 23,378,100 additional common shares at a subscription price of $5.03 per share. The offering grossed approximately $117.6 million. Although the offer was oversubscribed, the fund will not utilize the secondary oversubscription option, and excess payments from those who oversubscribed will be returned. Shares from the offering are expected to be issued on or about April 14, 2023. The final subscription price turned out to be lower than initially estimated, which will lead to refunds for certain subscribing rights holders.
CBRE Group, Inc. (NYSE: CBRE) is set to release its first quarter 2023 financial results on April 27, 2023, at approximately 6:55 a.m. Eastern time. A conference call will follow at 8:30 a.m. Eastern time to discuss the results. Investors can access the call via the company’s website, www.cbre.com, where a supplementary slide presentation will also be available. Replay options for the call will be provided for a week post-event. CBRE is recognized as the largest commercial real estate services firm globally, operating in over 100 countries with around 115,000 employees.
Accelerate Investment Partners and CBRE Investment Management have initiated a new strategy called Accelerate Infrastructure Opportunities, focusing on investments in digital and renewable real estate interests across North America. This strategy will include acquiring and managing ground leases and land for critical infrastructure assets, such as cellular towers and renewable energy projects. The partnership aims to leverage long-term capital for sustainable cash flow, benefiting from Accelerate's strong market position and expertise in property value maximization. Together, they plan to capitalize on the growth potential in the infrastructure sector.
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The CBRE Global Real Estate Income Fund (NYSE: IGR) has announced three distributions of $0.06 per share for April, May, and June 2023, totaling $0.18 per share. The current annualized distribution rate is 14.1% based on a closing market price of $5.10 as of March 28, 2023. For the fiscal year to date, the fund has declared six regular monthly distributions totaling $0.36 per share. Estimated allocations for the distributions indicate approximately 48% comes from net realized long-term capital gains. The board reviews distribution rates quarterly based on the fund's net investment income and realized gains.
CBRE and Akima Intra-Data have been awarded an IDIQ contract by the GSA for Electric Vehicle Supply Equipment (EVSE) installation across federal locations in the Western U.S. This initiative supports the federal goal of 100% zero-emission vehicle acquisitions by 2035. The partnership aims to provide federal agencies with a streamlined, turn-key solution for EVSE planning, design, delivery, and operation. With CBRE's extensive real estate services experience and Akima's government logistics background, the collaboration targets improved sustainability and efficiency in federal operations.
Summary not available.
The CBRE Global Real Estate Income Fund (NYSE: IGR) has declared a monthly distribution of $0.06 per share for March 2023. The declaration date was March 9, 2023, with the ex-dividend date on March 17, 2023 and payable date on March 31, 2023. The Fund’s current annualized distribution rate is 10.8% based on the March 7 closing price of $6.69. Total distributions for the fiscal year to date are $0.18 per share. The Fund's distribution policy is subject to change and is reviewed quarterly based on net investment income and realized gains.
For more details, a webinar on the Fund’s performance and market outlook is scheduled for March 15, 2023.