CB Richard Ellis' Private Client Group's Dean Marchi Completes Two Investment Sales Transactions Totaling $4.24 Million in New Jersey

Chatham and Newark, NJ, Mar 12, 2007 - /FLIERWIRE/-- CB Richard Ellis has announced that CBRE's Private Client Group's First Vice President Dean M. Marchi has completed the $3.25 million sale of 18 Washington Place in Newark, New Jersey, and the $991,000 sale of 249 Main Street in Chatham, New Jersey. The Private Client Group is the only specialized real estate group of its kind, which exclusively concentrates in meeting the needs of private real estate investors. David Miller provided legal representation for the seller, an international banker, in the Chatham transaction, with David Bendush legally counseling the buyer, a local businessman.

In Newark, Carol Stern of McCarter & English provided legal representation for St. Phillip's Academy, the seller, and Thomas Kennedy legally counseling the buyer, a union.

"We are pleased to have represented the sellers in their dispositions of 18 Washington Place and 249 Main Street," stated Mr. Marchi. "Both buildings received aggressive interest from a myriad of investors. Our personalized strategic advisory service, coupled with the unparalleled platform of CB Richard Ellis, ensured that our clients' needs were met in these transactions."

249 Main Street is a two-story, 4,150-square-foot mixed-use property containing two retail stores and two apartments. Currently, one retail unit is occupied. The buyer plans to make significant upgrades to the property. First Vice Presidents Dean Marchi and Dan Casey were responsible for this transaction.

18 Washington Place is a five-story, 25,199-square-foot building. The property is situated along the beautiful Washington Park, and was formerly used as a school for St. Phillip's Academy. The buyer plans a capital improvement program at the building, which it will utilize for its union- related activities. First Vice Presidents Dean Marchi and Richard Charles were responsible for this transaction.

CBRE's Private Client Group provides services to private real estate investors' highly specialized investment requirements. With over 65 teams in more than 40 markets across the United States, the Private Client Group represents private investors in marketing and trading assets that are uniquely suited to the private capital arena. As part of CBRE Capital Markets, the Private Client Group offers access to finance options provided by CBRE | Melody and puts the power of CBRE's comprehensive real estate services platform behind every transaction. The Private Client Group's industry distinction is further underscored by a proprietary, web-based investor database that profiles over 150,000 investors and is fed by each participating sales team.

About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), an S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2006 revenue). With over 24,000 employees, the Company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate and partner offices). CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.