CB Richard Ellis Group (CBRE) has acquired CBRE-PI Performance, its affiliate company in Switzerland. The financial details of the transaction were not disclosed.

CBRE-PI Performance was founded in 1997 and is the only full-service commercial real estate advisory firm in Switzerland . It provides a broad range of services, including transaction and project management, corporate real estate services, financing and investment advisory and valuation and project development. In addition, CBRE-PI Performance has extensive experience in hotel and leisure services. The company employs 33 professionals in Geneva and Zurich . It has been CBRE's affiliate since 2004.

'This acquisition consolidates our presence in a market where service provision is highly fragmented and often confined to specialist areas. Combining our firms will supply the Swiss market with a strong full-service provider and give us the opportunity to enhance our service offering for clients, many of whom are targeting Switzerland for growth,' said Mike Strong, chairman and CEO of CBRE in EMEA.