CBRE Acquires Healthcare Consulting Firm Noveen Consulting
Leading commercial real estate brokerage firm CBRE has continued its quest for talent with the acquisition of healthcare consulting firm Noveen Consulting.
The acquisition of the firm, which is based in Louisville, Kentucky, will allow CBRE to shore up its services for owners and operators of healthcare facilities across the U.S.
“Through the last seventeen years, Noveen and CBRE professionals have worked along side each other with a common purpose to address the business objectives of our clients. By combining resources, we are in position to provide a complete, integrated solution to the needs of our healthcare clients,” Noveen Consulting President Mo Deljoo said in a statement.
Noveen provides an array of services to more than 500 healthcare systems across the country, including facility assessment and optimization, energy management and technology consultations and implementation strategies.
Moving forward, Noveen will leverage CBRE Healthcare’s vast project management capabilities to advise clients and oversee capital and energy management projects.
“The environment for healthcare providers continues to evolve rapidly and Noveen gives CBRE another significant advantage in helping our clients to achieve innovative facility and technology outcomes,” CBRE Global President of Project Management Curt Grantham said in a statement.
This is CBRE's second M&A this week. Tuesday, the brokerage giant acquired affiliate CBRE/New England, the largest brokerage firm in Massachusetts with a staff of 1,200 people, for an undisclosed price. The two entered a joint venture in 1977 and CBRE purchased the company in its entirety Tuesday.
In addition to boosting its services and talent pool through the acquisition of smaller competitors, CBRE’s investment arm — CBRE Global Investors — recently bet big on the struggling retail sector with the purchase of an ownership stake in three GGP malls from Brookfield Property Partners. The assets — which combined account for 3.5M SF and are 98% leased — include Cumberland Mall in Atlanta, Ridgedale Center in Minneapolis and Parks Mall at Arlington in Dallas.
