CBRE to Buy 100% of Irish Affiliate

CB Richard Ellis Group Inc., Los Angeles, has agreed to buy the remaining outstanding shares of its 10%-owned affiliate in Ireland.The proposal to complete the purchase of CB Richard Ellis Gunne for $24.6 million in cash would give CB Richard Ellis "a leading position in the rapidly growing real estate market in Ireland," according to the Los Angeles-based company. CBRE said the proposed acquisition would allow Pat Gunne to continue as managing director of the company's Irish business. Gunne's residential operations will be excluded from the deal. CBRE can be found on the Web at http://www.cbre.com.