Firm Invests in Property that Requires Cleanup

Apollo Real Estate Advisors, San Francisco, a commercial real estate investment firm, will make a "major commitment" to CB Richard Ellis' environmental research initiative, the firms announced recently, increasing the real estate services firm's ability to invest in properties that require mitigation of environmental hazards.CB Richard Ellis, Los Angeles, has more than 9,000 employees worldwide. The company's servicees include property sales and leasing, property management, mortgage banking, investment management, capital markets, appraisal/valuation, and market research. CB Commercial and REI limited, which merged earlier this year to form CB Richard Ellis, had combined 1997 revenues of $848 million.

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