CBRE may have moved its corporate headquarters out of Los Angeles, but it’s still investing in the market.
The global real estate services firm has acquired L.A.-based construction management and advisory firm Beezley Management, according to the Los Angeles Business Journal.
Details of the acquisition were not disclosed, but Beezley principal and co-founder Jonathan Levy will join CBRE’s project management senior leadership team. The company was founded in 1997.
Beezley’s portfolio shows mostly low-rise complexes, green renovations, and some single-family home projects, according to its website. Notable projects include a 42,500-square-foot training facility in Playa Vista for the Los Angeles Clippers and a renovation of the Los Angeles Memorial Coliseum, now called United Airlines Field at L.A. Memorial Coliseum. The firm also constructed several buildings at Los Angeles Valley College.
Sean Conry, senior managing director at CBRE, said Beezley’s different services will strengthen its existing project consulting services in Southern California.
In October, CBRE said it was moving its global headquarters from L.A. to Dallas. While CBRE did not announce any layoffs or downsizing at its L.A. offices, the move is a loss for the region. It was the second-largest publicly-traded real estate company headquartered in L.A. behind Pasadena-based Alexandria Real Estate Equities.