Cbre Group Inc · NYSE:CBRE
Cbre — CB Richard Ellis Group — Presentation (November 2010)
13 slides from Cbre's investor presentation, Nov 17, 2010
Slide 1: Economic Outlook
Economic Outlook Raymond G. Torto, PhD, CRE Global Chief Economist November 17, 2010
Slide 2: Regional Growth Disparities Have Widened
Regional Growth Disparities Have Widened Real GDP (Annual Percent Change) Spread from Western Europe Source: CBRE Global Research and Consulting, Global Insight, October 2010 Forecast Western Europe
Slide 3: Global Deal Flow Better, but...
Global Deal Flow Better, but Source: Real Capital Analytics (October 2010). *Does not include sales of Chinese development sites. Transaction Volume ($ billions)
Slide 4: Data is Limited, but Cap Rates Recovering
Data is Limited, but Cap Rates Recovering Average Quarterly Cap Rates By Region Source: Real Capital Analytics (October 2010). * Cap rates for commercial properties only.
Slide 5: Prime Cap Rates: London/Paris vs. NY/DC
Prime Cap Rates: London/Paris vs. NY/DC Source: RCA, October 2010
Slide 6: Global Capital Value Trends
Global Capital Value Trends % change per annum Source: CB Richard Ellis, NCREIF -40% -30% -20% -10% 0% 10% 20% 30% 40% 50% 2002 Q1 2002 Q3 2003 Q1 2003 Q3 2004 Q1 2004 Q3 2005 Q1 2005 Q3 2006 Q1 2006 Q3 2007 Q1 2007 Q3 2008 Q1 2008 Q3 2009 Q1 2009 Q3 2010 Q1 2010 Q3 Asia Pacific EMEA USA Global
Slide 7: Global Rental Trends
Global Rental Trends % change per annum Source: CB Richard Ellis -30% -20% -10% 0% 10% 20% 30% 2002 Q1 2002 Q3 2003 Q1 2003 Q3 2004 Q1 2004 Q3 2005 Q1 2005 Q3 2006 Q1 2006 Q3 2007 Q1 2007 Q3 2008 Q1 2008 Q3 2009 Q1 2009 Q3 2010 Q1 2010 Q3 Asia Pacific EMEA Americas Global
Slide 8: Rental "Traction" Snapshot: 3Q
Rental “Traction” Snapshot: 3Q Source: CBRE Global Research and Consulting, November 2010 Washington D.C. S S Frankfurt F F Shanghai N N New York T T Toronto C C Chicago A A Auckland W W Paris S S P P M M Mexico City Singapore Madrid M M S S Los Angeles L L Sydney Tokyo T T L L London City London We
Slide 9: Limits on US Supply Push Office Vacancy Downward
Limits on US Supply Push Office Vacancy Downward Source: CBRE-EA Outlook, Winter 2011 8 10 12 14 16 18 20 - 150,000 - 100,000 - 50,000 0 50,000 100,000 150,000 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Completion
Slide 10: Similar Story in EU Office Market
Similar Story in EU Office Market Source: CBRE-EA Outlook, Fall 2010 3 4 5 6 7 8 9 10 - 1,000 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 Completions Net Absorption Vacancy Rate Net Absorption & Completions Vacancy Rate, % Forecast
Slide 11: The Private Sector is Adding Jobs
The Private Sector is Adding Jobs Source: Bureau of Labor Statistics - 1000 - 800 - 600 - 400 - 200 0 200 400 600 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-
Slide 12: But a Long Recovery to Former Health
But a Long Recovery to Former Health Source: Bureau of Labor Statistics, CBRE Econometric Advisors (September, 2010). Employment, % Change From Peak Months from Start of Recession And This is Optimistic!!
Slide 13: Vacancy and Availability Rates by Property Type
Vacancy at 3Q 44.2/ 2001 Hotels* 30.6 6.7 / 2003 5.7 Multifamily 11.4 / 1992 13.0 Retail 11.8 / 2004 14.0 Industrial 17.0 / 2003 16.7 / 2010 Office Previous Peak Year 2010Q3 Vacancy and Availability Rates Peak/Year 16.6 14.1 / 2010 13.1 / 2010 7.5 / 2009 42.7 / 2009 Sources: CBRE-EA Winter 2011 Outl
CB Richard Ellis Group — Presentation (November 2010) on 6ix