LOS ANGELES—CBRE Group says it has acquired Paragon Project Management Pty Ltd, a leading specialized project management company.

The acquisition materially strengthens CBRE's position as a leader in corporate real estate services in the Pacific region, the firm says. Paragon's national team of 26 professionals will be integrated with CBRE's existing project management division in Pacific. The combined operation will employ a staff of 70 project management professionals with broad and deep capabilities.

Tom Southern, president and CEO of CBRE's Australian & New Zealand operations, said the acquisition reflects the company's continued focus on the growth of its Global Corporate Services business.

“We will be able to provide an expansive, first class diversified service offering to clients in Australia and New Zealand, given the quality, experience and resources of the combined team,” Southern said.

Chris Hynes, the Senior Managing Director of CBRE's Pacific Global Corporate Services team, said: “Paragon is one of the leaders in Project Management in Australia. The quality of their people and client relationships was extremely attractive to us as was their track record in delivering landmark construction and fit-out projects across the country.”

Paragon has provided a range of consultancy services to the building and construction industry for the past 25 years through offices in Sydney, Brisbane and Perth. Paragon founder Ian Rea will lead the integrated CBRE project management team. Other senior members of the team will include Scott Jackman, Geoff Warren and Adam Currall.

Rea said the CBRE deal would provide Paragon with access to a broader client base and the resources of a market-leading global business. “The strength of the CBRE brand will enhance our ability to continue to grow the business, while offering our existing staff greater career opportunities,” Rea said.

Paragon has a proven track record working for both the owners and occupiers of space in Australia and New Zealand across all project sectors, including multi-unit residential, commercial development, building refurbishment/repurposing, civil subdivision and land remediation projects, data centers, aged care and health facilities, and projects for all levels of government.

Significant recent assignments include project managing the fit-out of BHP Billiton's 35-floor occupancy in Brookfield Place in Perth, the ABC South Bank Studios in Brisbane and workspace projects for ANZ, Canon and Fairfax Media in Sydney and the Commonwealth Bank of Australia in both Sydney and Melbourne.