Bob Sulentic

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Los Angeles—CBRE Group has launched a Covid-19 relief fund thatwill provide assistance to communities and the company's employeesworldwide.

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Plans call for raising a minimum of $15 million for the relieffund, with CBRE kicking in a $10 million donation supplemented byan employee donation program. CBRE will match employee donations ona dollar-for-dollar rate, or at a higher rate if necessary, to meetthe $15 million minimum funding goal.

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The CBRE Covid-19 relief fund will support organizations thatprovide frontline health care workers with personal protectiveequipment and essential medical supplies, that alleviate hunger asa result of the pandemic, or address "pressing local needs aroundthe world based on employee input."

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Additionally, the company will direct $5 million of the relieffund to aid employees who are facing financial hardship due toCovid-19. The assistance will include grants of up to $500 for foodor other immediate needs, or payments of up to $2,500 for otherneeds such as transportation, rent or mortgages,utilities,childcare, health care or funeral expenses.

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The company's employees are the "heart of CBRE," Bob Sulentic,the company's president and CEO, said in prepared remarks.

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"Now's the time for us to rally together to support one anotherand especially our colleagues who have fallen on hard times,"Sulentic said.

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The company has more than 100,000 employees worldwide, excludingaffiliates.

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In another part of the fundraising program, CBRE will contribute$100 to designated local charities for each unit of blood donatedby its employees.

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The fundraising campaign is the largest ever for CBRE, which isthe world's largest commercial real estate services and investmentfirm. It will be operated through the CBRE Foundation.

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Brenda Sapino Jeffreys

Senior reporter Brenda Sapino Jeffreys covers the business of law in Texas. Contact her at [email protected] On Twitter: @BrendaSJeffreys