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CBRE expands investment services team

Los Angeles-based CBRE Investors has hired former Bank of America and BlackRock investment pros David Sullivan and Steven Yeh. The duo will join the firm as directors.

Real estate investment management firm Richard Ellis has added David Sullivan and Steven Yeh as directors in its investors services group. The pair will be based in the firm’s New York office.

Prior to joining CBRE, Sullivan was previously director of institutional marketing for a New York-based real estate investment advisory firm as well as director of marketing for Bank of America’s alternative investment group. Yeh was previously vice president of BlackRock’s account management group for real estate and also worked for Prudential Real Estate Investors, Prudential Securities and Deutsche Banc Mortgage Capital.  

Last month, the Los Angeles-based firm appointed former IPD chief economist Sabina Kalyan as European head of strategy – a newly created position at the firm. It also expanded its New York team with the addition of Kim Hourihan, who joined as a portfolio manager and a managing director of the managed accounts group.  

CBRE closed its latest $2.1 billion (€1.3 billion) real estate fund in May, CBRE Strategic Partners US 5, comprising two limited partnerships, Strategic Partners US Value 5 and Strategic Partners US Opportunity 5, with investors from the US, Europe and the Middle East. The vehicle has a purchasing power of $6.4 billion, according to the firm.