Based in Los Angeles, California, CB Richard Ellis Services (CBRE) is a leading commercial real estate services firm serving real estate owners, investors and occupiers worldwide.  Freeman Spogli’s investment in CBRE resulted from a prior investment in Koll Management Services, a publicly traded real estate services company.  Freeman Spogli obtained an ownership interest in CBRE in connection with the merger of Koll Management Services and CB Commercial (subsequently renamed CB Richard Ellis).  In 2004, CBRE completed an initial public offering (NYSE: CBRE).  Freeman Spogli realized its investment in CBRE through public market transactions from 2004 to 2005.