CBRE Group

CBRE balances cyclical revenue (property sales, mortgage origination) with resilient, contracted lines (facilities/property management, project/program management, loan servicing, investment management fees). The segment reorganization in 2025 formalized this blend: Advisory, BOE, Project Management and Real Estate Investments.

As of Q3 2025, AUM was 155.8 billion dollars and the loan‑servicing portfolio exceeded 450 billion dollars, supporting recurring fees. Development revenue and incentive fees can be volatile, but management has diversified exposure and kept leverage low.

We view medium predictability with upside from secular data center/digital infrastructure demand and flexible workspace scale via Industrious.