CBRE Buys Peloton Commercial Real Estate’s San Antonio Operations

The acquisition makes CBRE the leading provider of commercial property leasing, sales and management services in the growing San Antonio market…

Los Angeles – CBRE Group, Inc. announced that it has acquired the San Antonio operations of Peloton, a leading full service commercial real estate firm in Texas. The acquisition makes CBRE the leading provider of commercial property leasing, sales and management services in the growing San Antonio market.

In 2017, CBRE and Peloton’s San Antonio operations combined completed $681 million of sales and leasing transactions and currently manage and/or lease over 20 million sq. ft. of commercial property in the San Antonio market.

“The combination of CBRE and Peloton creates San Antonio’s top real estate services brand, which will deliver superior results for our clients and expanded opportunities for our professionals,” said Michael Caffey, President of the Texas and Oklahoma Division and Latin America, CBRE.

Peloton in San Antonio is led by Gardner Peavy, who joins CBRE as Managing Director for San Antonio. He will be joined by 26 colleagues from the Peloton San Antonio operations. Mr. Peavy will report to Scott Senese, who leads CBRE’s Austin and El Paso operations. The combined workforce of the two companies totals nearly 300 employees in San Antonio.

“We are extremely excited about what the combined operations represent in the San Antonio market–a broad and deep offering for our current and future clients utilizing some of the most talented service providers in the area,” said Mr. Peavy. “Timing could not be better, as San Antonio continues to be a real estate market of new focus and growth.”

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.