Skip to content
AnalystLens

CBRE GROUP, INC. 8-K Report, Material Agreement (Dec 22, 2006)

Reports
Leadership Changes·Acquisitions & Dispositions·Material Agreements+2
Filing Date
Filed December 22, 2006
Period End
December 20, 2006
Security
CBRE
In the record · 2016–202610-K1110-Q328-K149

CBRE filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 149 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’17Mar ’17
  2. Leadership change8-K · Apr ’19Apr ’19
  3. Material agreement8-K · Jul ’21Jul ’21
  4. Leadership change8-K · Aug ’25Aug ’25

01—Abstract

Summary

Summary of the 8-K filed December 22, 2006. Cited figures are marked; the original filing is the authoritative source.

This 8-K filing by CB Richard Ellis Group, Inc. (CBRE) on December 22, 2006, announces two major corporate events: the completion of the acquisition of Trammell Crow Company (TCC) and the entry into a significant new credit agreement.

The acquisition of TCC was finalized on December 20, 2006, for a cash consideration of $49.51a per share, funded through the company's new credit facilities. The new credit agreement, also dated December 20, 2006, establishes a senior secured five-year revolving credit facility of $600 million and senior secured term loan facilities totaling up to $2.2 billion. This substantial financing package is crucial for supporting the TCC acquisition and future operations.

The filing also details leadership changes following the acquisition, with the appointment of Robert E. Sulentic and Curtis F. Feeny to the Board of Directors, and outlines updated employment agreements and compensation adjustments for key executives, including Mr. Sulentic.

02—Key points

Key Highlights

  1. CBRE Group, Inc. has completed its acquisition of Trammell Crow Company (TCC) on December 20, 2006.
  2. The acquisition was funded by a new credit facility, including a $600 million revolving credit facility and up to $2.2 billion in term loan facilities.
  3. The acquisition price for TCC shareholders was $49.51 in cash per share.
  4. Robert E. Sulentic and Curtis F. Feeny have been elected to CBRE's Board of Directors following the TCC merger.
  5. Robert E. Sulentic has entered into an amended employment agreement with CBRE, taking on a significant executive role and detailing compensation, bonus structures, and severance provisions.
  6. Compensation adjustments were made for other senior executives, including an increase in base salary and target incentive compensation for Calvin W. Frese, Jr.

03—Questions

Frequently Asked Questions

  1. What was the main purpose of this 8-K filing?

    This 8-K filing primarily announces the completion of CBRE Group, Inc.'s acquisition of Trammell Crow Company and the entry into a new, substantial credit agreement to finance this acquisition and support ongoing operations.

  2. How was the acquisition of Trammell Crow Company financed?

    The acquisition was financed through a new senior secured credit facility that includes a $600 million five-year revolving credit facility and up to $2.2 billion in senior secured term loan facilities. This financing was put in place on December 20, 2006.

  3. What impact does the Trammell Crow Company acquisition have on CBRE's leadership?

    Following the acquisition, two former Trammell Crow Company directors, Robert E. Sulentic and Curtis F. Feeny, have been elected to CBRE's Board of Directors. Mr. Sulentic has also been appointed to a significant executive role within the company.

  4. Are there any significant changes to executive compensation or agreements reported?

    Yes, the filing details an amended employment agreement for Robert E. Sulentic, outlining his new role, salary, bonus potential, and severance package. Additionally, the base salary and incentive compensation targets for Calvin W. Frese, Jr. have been increased.

04—Continue

← View all 8-K filings