Alpha sells Noble Gibbons

CB Richard Ellis has acquired a 51% ownership interest in Noble Gibbons, a Russian real estate business from Alpha Capital Partner’s investors and other shareholders. CB Richard Ellis has committed to purchasing the remaining outstanding shares of Noble Gibbons, subject to certain conditions, at a later date. Financial details of the transaction were undisclosed.

Alfa Capital Partners, a Moscow-based private equity and real estate investment firm, acquired its stake in Noble Gibbons in 2004. Since the acquisition, the firm has been active in supporting Noble Gibbons’ management and its business development strategies.

Founded in 1994, Noble Gibbons is based in central Moscow and has 230 employees, including 115 property and facilities management personnel located at client premises. It provides a full range of real estate advisory and management services including: property management, office, retail and industrial agency, consulting and valuation, project management, and asset investment brokerage.

Noble Gibbons completed sales and leasing transactions valued at approximately $233m in 2005, and manages more than 2.6 million square feet of commercial real estate.