CBRE Group, Inc. (NYSE: CBRE) today announced that it has invested in a fund sponsored by MetaProp, an early-stage PropTech venture capital and acceleration firm. MetaProp’s Fund II will invest in early-stage real estate and real estate-related technology firms.
“We are seeing increasing momentum among property tech start-ups in our industry and our investment in MetaProp will expand our insight into this important ecosystem,” said Chandra Dhandapani, CBRE’s Chief Digital & Technology Officer. “Whether we buy, build or partner to enhance our capabilities, continuing to deliver the best outcomes for clients requires that technology is embedded into every aspect of CBRE’s business.”
MetaProp investors include real estate and real estate technology companies as well as REITs, pension managers and private equity firms. Based in Manhattan's Silicon Alley, the MetaProp NYC 22-week accelerator, 8-week pre-accelerator and the MetaProp Bridge accelerator at Columbia University are leading programs for high growth PropTech start-ups. MetaProp NYC's team and strategic seed stage funds have invested in 90+ technology companies across the real estate value chain.
CBRE’s investment in MetaProp Fund II is another element of its strategy to deliver a market- leading operating platform, particularly digital and technology capabilities. CBRE has a robust suite of more than 35 proprietary enablement technologies (CBRE Vantage) that help the company’s professionals to deliver superior client outcomes. More information can be found at cbre.com/vantage.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
