CBRE sees gains in US property

CB Richard Ellis (CBRE), one of the largest property services firms, said fourth-quarter adjusted profit grew 34 per cent, underscoring the rebound in commercial real estate. The firm posted earnings of $115.4m (£71.5m) for the last three months of 2010, up 34 per cent on a year ago. Revenue rose 27 per cent to $1.65bn, beating analyst forecasts, driven by strong growth in the Americas.