CBRE and Brookfield Properties Expand Strategic Partnership to Canada

Brookfield’s Office Portfolio to Anchor CBRE’s New Investor Portfolio Management Business in Canada

CBRE Group, Inc. and Brookfield Properties have expanded their strategic partnership that leverages the combined power of both firms to drive tenant satisfaction and property performance in Canada.

Under the partnership, branded Brookfield Properties Operated by CBRE, the two global real estate businesses will together deliver comprehensive property management services – including building operations, property accounting and procurement services – across the vast majority of Brookfield Properties’ Canadian office portfolio in Toronto and Calgary.

The partnership in Canada marks the first expansion of CBRE’s new Property Management offering, CBRE Investor Portfolio Management, outside the U.S. This group caters to property owners seeking property management services through improved operational consistency, cost-effectiveness and portfolio-level approaches to sustainability, data collection and management, accounting, customer experience, lease administration and building technology.

“This partnership will see CBRE leverage the power of scale to create efficiencies and optimize property performance, staking our claim to industry leadership in complex property management,” says CBRE Canada President and CEO Jon Ramscar. “Our innovative partnership approach will define CBRE's property management proposition in Canada, set industry standards and unlock future opportunities for exceptional office property management at the portfolio level.”

The partnership will benefit from CBRE’s global Property Management capabilities, taking advantage of its scale, agility, resources and purchasing power as well as its deep experience with operating large property portfolios and Brookfield Properties’ long-standing commitment to providing top quality tenant services and its success as a premier building operator.

“The strategic partnership we launched with CBRE in the U.S. in January, designed to maintain our premier tenant experience while generating operational efficiencies and enabling us to focus on asset management and strategy, has been very successful,” said Bobby Swennes, President of Brookfield Properties’ North American office business. “We are confident expanding the partnership to our Canadian office operations will yield similar benefits for our Canadian tenants, our investors and our overall business goals.”

Craig Hudleston, Global COO and Head of Investor Portfolio Management, oversees CBRE’s Investor Portfolio Management business unit. Lisa Bevacqua, Senior Managing Director, Investor Portfolio Management, serves as the dedicated account lead for the Brookfield Properties Operated by CBRE North American portfolio to drive connectivity and consistency.

“This is a very exciting development for CBRE Property Management in Canada and marks a key moment in the history of the Canadian business,” Ramscar says. “ We are shaping the future of the industry and elevating real estate services in Canada.”