CBRE Group

CBRE prioritizes high‑return organic investments, disciplined M&A and opportunistic buybacks.

Since year‑end 2024 through Q3 2025, it repurchased about 5.2 million shares for 663 million dollars, with roughly 5.2 billion dollars remaining under the 2024 program authorized to 2029. Strategically, CBRE acquired the remaining 60 percent of Industrious (enterprise value about 800 million dollars) to anchor the new BOE segment and deepen workplace experience capabilities, and it acquired Pearce Services for about 1.2 billion dollars to expand digital/power infrastructure services expected to contribute materially to core EBITDA by 2026. We view the balance between bolt‑ons and buybacks as thoughtful, overseen by a CFO who is also CIO, though development co‑investments and incentive fees add some cyclicality.