The world's largest real estate company has named new leadership for its real estate segment and its development arm, Trammell Crow Co.
:quality(75))
Andy Glanzman, who has served as co-CEO of CBRE Investment Management since last December, was promoted to CEO of CBRE's real estate investments segment, according to a release.
Glanzman will have executive oversight of TCC and its global asset investment management subsidiary, CBRE Investment Management. He will still serve as co-CEO of the CBRE IM sector alongside Adam Gallistel.
Glanzman joined CBRE in 2010 as managing director and chief legal officer for CBRE IM. The move is the most significant promotion that CBRE announced this week would take effect Jan. 1, but it isn't the only one.
CBRE also named Adam Nims the new CEO of Trammell Crow, which has a more than $30B portfolio. He will take over for Danny Queenan, who will move to executive group president for TCC, overseeing data center development, and will report to Nims.
Nims previously served as the company's president, where he was responsible for development and acquisition projects in Austin, Dallas and Houston and the firm's Data Center initiative.
Nims has been with TCC since 2006. He's served as chief investment officer and president for the eastern U.S. division of the firm.
Adam Saphier, chief investment officer for TCC, has been named global chief operating officer of CBRE's advisory services segment. He'll be responsible for all advisory operations outside of the U.S. and Canada.
“Andy, Adam and Adam have delivered exceptional results for our company and clients over many years,” CBRE CEO Bob Sulentic said in a statement. “Their new roles position them to have an even greater impact while continuing to advance their careers.”
Revenue for CBRE's real estate investments segment decreased 30% during the third quarter due to lower incentive fees in its investment management business and lower construction management and development fees from development services, according to the company's earnings report.
CBRE had $560M in real estate under development as of Sept. 30, up from $505M at the end of 2024. The fastest-growing segment of CBRE's business is the data center sector, from which revenues grew 40% year-over-year in the third quarter, Bisnow previously reported.
CORRECTION, DEC. 18, 3:25 P.M. ET: CBRE named new heads of real estate investment and Trammell Crow Co., not CBRE Investment Management, as a previous version of this story stated. The story has been updated.
)
)
)
)
)
)
)
)
)
)
)
)