CHICAGO — Transwestern Real Estate Services has acquired Chicago-based MB Real Estate (MBRE), a full-service commercial real estate firm. The transaction adds 120 team members and a regional property management portfolio exceeding 12 million square feet.
Founded in 1982, MBRE provides expertise in asset and facilities management, leasing services, project management, tenant representation and investment services. Its leasing and management portfolio includes high-profile properties such as Michigan Plaza, 181 W. Madison, Millennium Park and the Richard J. Daley Center.
Celebrating its 45th anniversary in 2023, Transwestern is a diversified commercial real estate firm with more than 2,100 team members nationwide. MBRE began operating as Transwestern on Jan. 1. Financial terms of the transaction were not provided.