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CBRE has completed its acquisition of Heery International Inc. from Balfour Beatty, the commercial real estate services firm announced. Agreement was reached in early October.

The move is not expected to result in immediate changes in operations here.

鈥淏oth companies will continue their regular operations in the Portland area,鈥� CBRE spokesman Robert McGrath said. 鈥淭hey have some areas where they really strengthen us. Both businesses will be working together, and we are looking to expand and enhance our operations.鈥�

Dennis Lawler, senior managing director for Heery’s Lake Oswego office said that little will change for clients or the 67 employees scattered throughout the Northwest. The 43 employees in the Portland area focus primarily on project management and commissioning services.

鈥淥ne of the reasons that CBRE purchased Heery is they wanted to get into public sector work,鈥� Lawler said. 鈥淭hey saw us as someone that has been doing public sector work for decades.鈥�

He said that while many of CBRE’s acquisitions often eventually take on the CBRE moniker as their sole name, he expects Heery International to maintain its name.

鈥淭hey told me 鈥� 鈥榊ou guys have developed a strong reputation and part of what we are paying for is your name and reputation in the marketplace,’鈥� he said.

CBRE is one of the world’s largest commercial real estate services and investment firms, with 450 offices. Heery International is a multiservice firm based in Atlanta with 535 employees in 19 U.S. offices, including the one in Lake Oswego. It provides services including engineering, consulting, project management, architecture, interior design and commissioning.

The deal is reported to be worth $57 million.

鈥淭his acquisition advances our strategy to grow our project management expertise and capabilities,鈥� CBRE’s Global Group President Mike Lafitte stated in a press release. 鈥淲e are particularly excited about Heery’s ability to deepen our relationships in the public and educational sectors, grow our position in such new vertical segments as aviation and sports, and add capabilities and expertise in design engineering services.鈥�

Nationally, Heery will continue to be led by President Ted Sak and Chief Operating Officer Glenn Jardine.

鈥淲e believe our expertise is a great fit with CBRE’s focus on delivering comprehensive, fully integrated commercial real estate solutions,鈥� Jardine stated in the press release.