CBRE Group (CBRE) J.P. Morgan 2025 Ultimate Services Investor Conference summary

Business overview and strategy

• Operates as a global leader in commercial real estate services, diversified by asset type, client type, service type, and geography.

• Focuses on expanding into resilient and secularly favored sectors, such as data centers and infrastructure, to drive growth.

• Resilient businesses now comprise 60% of the portfolio, up from 30% a decade ago, with continued growth expected.

• Transactional businesses remain profitable and provide valuable market insights, supporting overall strategy.

• Significant overlap exists in the customer base, enabling cross-selling and deeper client relationships.

Data centers and digital infrastructure

• Data centers now account for about 10% of earnings, a significant increase from five years ago, with growth expected to continue.

• Provides services across advisory, project management, building operations, and real estate investments for data centers.

• Recent acquisitions, such as Pearce Services and DirectLine, strengthen capabilities in digital infrastructure and technical services.

• Manages around 800 data centers globally and oversees major hyperscale projects.

• Unique relationships with utility authorities and hyperscalers help address power bottlenecks in data center development.

Project management and M&A

• Turner & Townsend acquisition expanded technical capabilities and addressable market, with growth accelerating from 15% to 20% annually.

• Project management business now generates $3.5 billion in revenue with 22,000 employees.

• M&A is a core strategy, targeting businesses that align with resilient, high-growth sectors.

• Capital allocation prioritizes M&A, real estate investments, and share buybacks when appropriate.