Oracle, CBRE Forge Global Deal

LONDON-Software giant Oracle Corp. has selected Los Angeles-based CB Richard Ellis Group as its preferred transaction management service provider for its commercial real estate in Europe, the Middle East and Africa. Oracle operates in 50 countries with more than 3.8 million sf of holdings in 120 properties across the EMEA market.

With plans to continuing the growth and expansion of its business throughout Europe, the Middle East and Africa, Oracle had sought to establish a partnership with a veteran real estate services company. Working in CBRE’s favor were the company’s 128 offices already in the EMEA region.

The new partnership expands upon the existing relationship between Oracle and CBRE. In 2007, Oracle selected CBRE as its preferred real estate provider in North America.

“CBRE has demonstrated outstanding performance serving corporate occupiers over the past 20 years,” says Reading, UK-based Tim Caiger, head of European property at Oracle, in a prepared statement. “We are very excited about our new partnership and working together to maximize the value from our real estate holdings. Like Oracle, CBRE has a clear commitment to innovate their service offering and consistently lead the market.”

Locally based Matt Pullen, executive director of CBRE Global Corporate Services, EMEA, explains that “this engagement represents a great vote of confidence in CBRE’s EMEA platform and our ability to deliver a robust global solution to Oracle. We continue to find opportunities to generate innovative solutions for our corporate clients to reduce real estate risk and deliver a more responsive property portfolio for their business.”

Founded by software entrepreneur Larry Ellison, Oracle made 11 global acquisitions in the past year. Among the offices Oracle maintains in the EMEA market are facilities in Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Latvia, Lithuania, Netherlands, Norway, Poland, Portugal, Romania, Albania, Russia, Spain, Sweden, Switzerland and Turkey.