CBRE Group, Inc. has announced it has closed the acquisition of Preuss Gesellschaft mbH and its subsidiaries, including Preuss, which provides project management services in Germany.
Preuss specialises in project management of new real estate developments and refurbishment of large existing properties.
Its clients include real estate investors and major occupiers across all sectors of the German economy.
It employs approximately 100 professionals, including architects, civil engineers and HVAC engineers, who, it is said, will be integrated into CBRE’s Building Consultancy group in Germany and across Europe.
Preuss is CBRE’s second acquisition in Germany in 2014, following its purchase in February of VALTEQ Gesellschaft mbH, a real estate technical consulting firm.
Michael Strong, CBRE’s Executive Chairman of Europe, Middle East and Africa, said: “We are very pleased to welcome the Preuss team to CBRE. We are dedicated to providing our clients with the broadest range of property services, and the acquisition of a leading specialist such as Preuss, as well as our recent acquisition of VALTEQ, expands and enhances our capabilities in Germany.”