It's a trend.
CB Richard Ellis announced this morning that it will join the rush of brokerages vying for the growing advisory business surrounding just what the hell to do with all of these distressed assets likely to be flooding the market sometime soon.
CBRE has dubbed its team the Restructuring Services Group and named senior managing director Spencer Levy as its leader.
In so doing, CB is joining an army of firms looking to cash in on what is likely to be a lucractive business. As The Observer reported this week, Colliers ABR, Jones Lang LaSalle, Savills Granite, Newmark Knight Frank, Eastern Consolidated and Grubb & Ellis have all formed distressed asset groups. read more »