CBRE Group, Inc. (CBRE) News & EventsCBRECBRE Group, Inc.

Lineage Sues Altus Power and Contractor for Damages

Lineage (LINE) filed a civil lawsuit in Los Angeles Superior Court against Altus Power, Inc., a commercial solar operator, and its contractor Pearce Services LLC, a subsidiary of CBRE Group (CBRE), alleging that their negligence caused the June 17, 2026, fire that destroyed Lineage's 500,000 square-foot cold storage facility in the Boyle Heights neighborhood in Los Angeles. "This lawsuit is about Altus and Pearce starting this fire and then being nowhere to be found when the community needed help," said Greg Lehmkuhl, President & CEO of Lineage. "From the moment it started, Lineage stood alone in supporting remediation and cleanup efforts for a neighborhood impacted through absolutely no fault of our own. The record is clear: this was a solar fire. Cold storage is not a risk to communities - it is an essential service that lowers food costs, expands food access and creates jobs. We are grateful to each and every worker who contributed over 210,000 hours to complete this unprecedented and complex cleanup in record time. We want to thank the community of Boyle Heights and East LA for their patience during this process. With the cleanup completed, now is the right time to pursue accountability and recover the substantial losses we incurred as a result of Altus's and Pearce's negligence."

CBRE Reports Q2 Revenue of $11.2B, Below Consensus

Reports Q2 revenue $11.2B, consensus $11.28B. "The momentum in CBRE's business continued in the second quarter, with Core EPS up 30% on a 16% revenue increase," said Bob Sulentic, CBRE's chair and chief executive officer. "Our strength was balanced across the company. Each of our segments - Advisory, Building Operations & Experience, Project Management and Real Estate Investments - grew Segment Operating Profit by more than 25%."

Venu Holding Secures Over $150M in C-PACE Financing

Venu Holding (VENU) announced that CBRE Group (CBRE), retained by the Company to secure Commercial Property Assessed Clean Energy financing, has identified more than $150M in gross proceeds for VENU. C-PACE proceeds are expected to fully fund the balance of construction for Regent Bank Amphitheater in Broken Arrow, Oklahoma, expected to open in fall 2026, and Sunset Amphitheater in McKinney, Texas, expected to open in the first quarter of 2027. C-PACE is long-term, fixed-rate financing secured through a property tax assessment tied to qualifying building improvements, providing VENU with institutional-scale capital without issuing equity.