CBRE Plans IPO

CB Richard Ellis Group, Los Angeles, is planning an initial public offering of its common shares and has filed a registration statement with the Securities and Exchange Commission relating to the IPO.The company reported in the SEC filing that the maximum aggregate offering price for the IPO is $150 million. The IPO will consist of newly issued shares offered by CBRE and secondary shares offered by affiliates of Blum Capital Partners and "other selling stockholders," CBRE said. The underwriters will have the option to purchase additional shares to cover any overallotments. The offering is being made through an underwriting syndicate led by Credit Suisse First Boston and Citigroup Global Markets. L.J. Melody, a company that originates and services commercial mortgage loans, is a subsidiary of CBRE.