The deal adds 55 employees to CBRE's operations in Canada. Cam Kourany, the founder and president of Tempest, which has offices here and in Ottawa, was appointed senior managing director at CBRE.
Tempest was founded in 1991. The firm was based in Ottawa, but now top executives are relocating to CBRE's Toronto operations.
This is Los Angeles-based CBRE's second international deal this month with a foreign partner. The firm also signed a joint venture agreement with Vanke, a residential developer in China, to manage the latter's portfolio.
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