The structure of the deal has changed slightly since August,when Insignia first revealed its intention to purchase the Frenchfirm. The current structure of the transaction includes $17.8million in cash and stock to be paid up front and $27.8 million inperformance-based payments to be made over three years. Originally,the initial cash outlay was set at $30.74 million with theinstallments totaling up to roughly $19 million.

The change, which reflects a decrease in the initial payment andan increase in the performance-based component of the deal, takesinto account the global economic slowdown and its effects on realestate.

When Insignia chairman and CEO Andrew L. Farkas discussed thedeal with GlobeSt.com in August, he said Paris-based GroupeBourdais would give Insignia "a market-leading position in one ofEurope's other primary financial headquarters," in addition to itsNew York, Hong Kong and Mexico City operations.