CBRE Buys Affiliate in Turkey

ISTANBUL-CBRE has acquired its affiliate company here in Turkey, formerly run by managing director Feroze Bundhun. Anthony Labadie, formerly head of the Global Corporate Services office for the company in Spain, has been appointed as new managing director here, and Bundhun remains as a consultant to the company, according to a CBRE statement.

The affiliate offers valuation, leasing, investment, research and consultancy expertise. Labadie said in the statement that Turkey’s position as a strategically important country, which provides a link between Europe, the Middle East and Asia, has been enhanced by its recent strong economic performance, stability and demographic trends. “The real estate market’s performance has been particularly robust,” he said. “The country’s prospects in 2012 and beyond are exciting and I’m delighted to be leading this experienced team in its next phase of growth.”