CBRE acquires sustainability advisory firm Paia Consulting

Global real estate consultancy CBRE has acquired Paia Consulting, a boutique sustainability advisory firm operating out of Singapore.

Founded in 2002, Paia Consulting provides clients with sustainability strategy, implementation, and reporting services in Singapore and across the Southeast Asian region. The 20-person company has since its inception worked with over 150 clients, including dozens of listed companies.

As part of the deal with CBRE, Paia Consulting will integrate with CBRE’s ESG Consulting & Sustainability Services team in Singapore, which is the hub for the company’s sustainability services across the APAC region. David Fogarty, who has led CBRE’s ESG Consulting & Sustainability Services in Asia since 2022, will continue to lead the team and oversee the integration process.

Anshuman Magazine, President of CBRE’s Advisory division across India, Southeast Asia, Middle East, and Africa, said: “This acquisition will have an impact across the APAC region. The combined team’s work will likely spread across our network of offices, as well as our clients’ multi-national operations – giving clients access to best practices across geographies.”

Moray Armstrong, Managing Director at CBRE in Singapore, welcomed the Paia Consulting team, stating that they will significantly bolster CBRE’s range of services and solutions. “With their capabilities, CBRE will be at the forefront of ESG advisory in Singapore and across Asia Pacific. Our professionals will be partnering with clients on reporting, training, compliance, benchmarking, developing and executing ESG plans.”

Paia Consulting’s leadership will assume key roles at CBRE. Carrie Johnson, who founded Paia Consulting in 2002, will serve as Lead Consultant. Corrado Forcellati, who has been Paia Consulting’s Managing Director since joining in 2021, has been appointed as Director at CBRE.

The deal comes hot on the heels of CBRE divesting its Project Management practice to Turner & Townsend, its global project management subsidiary that now has over 20,000 employees in 60 countries.