CBRE supports FirstGroup plc in sale of its 32-site US portfolio
Global real estate advisor CBRE has successfully advised transport operator FirstGroup plc on the sale of its legacy US portfolio.
CBRE Strategic Advisory’s Commercial Strategy team has been working with FirstGroup on the sale of its Greyhound portfolio since December last year. The 32-site portfolio disposal aligns with FirstGroup’s corporate strategy of exiting from North America to focus on its UK bus and rail operations.
Over the last 12 months, CBRE’s Strategic Advisory Commercial Strategy team has been delighted to manage this entire transaction process. We have run a robust and competitive bid process with two independent bidders, evaluated a series of bids and negotiated with both, before liaising with the selected bidder and in-house legal teams to help close the deal.
The disposal of the legacy Greyhound property portfolio is a significant element of our wider corporate strategy of simplifying the Group. CBRE Strategic Advisory’s Commercial Strategy team played a key part in helping FirstGroup achieve this ambition; driving the portfolio sale from the start this time last year to its successful conclusion today. They worked seamlessly with FirstGroup and our US lawyers to help make this complex project happen.