CBRE Commences Marketing Launch to Monetize a Portion of CIBT’s Real Estate Portfolio
Vancouver, B.C., May 25, 2021 – CIBT Education Group Inc. (TSX: MBA, OTCQX International: MBAIF) (“CIBT” or the “Company“) is pleased to report that CBRE Limited (“CBRE”), a leading Canadian real estate brokerage and the top-ranked firm for commercial real estate investment sales globally, has formally started its marketing campaign to exclusively list forsale six highly desirable GEC® rental buildings.
CBRE’s International Markets Team & National Apartment Group are actively working with institutional and private buyers across Canada, the United States and globally to facilitate a competitive sales process to maximize value for the assets.The offering represents a highly desirable opportunity to acquire a portfolio of 413 units in core downtown and westside transit-oriented locations. To view the portfolio video, please visit: www.cibt.net/cbre or contact CIBT’s representatives at CBRE for more information regarding the offering process.
CBRE Group, Inc. is the world’s largest commercial real estate services and investment firm, with 2020 revenues of $23.8 billion and more than 100,000 employees (excluding affiliate offices). CBRE is the top-ranked firm for commercial real estate investment sales globally for the tenth consecutive year, according to Real Capital Analytics (RCA). CBRE has been included on the Fortune 500 since 2008, ranking #128 in 2020. It also has been voted the industry’s top brand by the Lipsey Company for 20 consecutive years, and has been named one of Fortune’s “Most Admired Companies” for nine years in a row, including being ranked number one in the real estate sector in 2021, for the third consecutive year. Its shares trade on the New York Stock Exchange under the symbol “CBRE.”
About Global Education City Holdings Inc.:
Global Education City Holdings Inc., CIBT’s real estate subsidiary, develops and manages academicassets such as student-centric rental apartments, corporate housing, hotel and education super-centres. Under the GEC® brand, Global Holdings provides B2B accommodation service to 72 schools in Metro Vancouver and B2C service to students from 77 countries. The GEC® branded portfolio, including properties that are operational and those under-construction or development, comprises 11 projects, 16 buildings, spanning over 1.5 million square feet.
CIBT is one of Canada’s largest education services and academic real estate companies. With a global presence since 1994, CIBT employs nearly 600 staff at 46 business locations and operates a global network of 2,500 recruitment agents. In 2020, the group provided education, student recruitments and accommodation services to over 11,000 students. Its real estate portfolio, including operating assets and development budget, exceeds $1.5 billion. CIBT’s education subsidiaries include Sprott Shaw College (established in 1903), Sprott Shaw Language College, Vancouver International College Career Campus, CIBT School of Business and Global Education Alliance. These subsidiaries offer over 150 accredited educational programs in healthcare, business, e-commerce, cyber-security, hotel management, language training and recruitment services at 29 locations in Canada and abroad. CIBT also owns Irix Design Group Inc. (“Irix Design“). Irix Design is a leading design and advertising company services over one hundred corporate clients including CIBT. Visit us online at www.cibt.net.
Chairman, President & CEO
CIBT Education Group Inc.
Investor Relations Contact: 1-604-871-9909 extension 319or | Email: firstname.lastname@example.org