CB Richard Ellis Group, Inc. said Monday that it has acquired Miami-based Blackrock Retail Property Advisors Inc., in a move to boost its presence in the Southeastern United States. Financial terms of the deal were not disclosed.

Blackrock focuses exclusively on retail properties in the Southeast and is currently engaged in the sale of 21 retail properties valued at more than $400 million, El Segundo-based CBRE, the largest commercial real estate broker in the world, said in a statement.

Founded in 1996, Blackrock has six employees who will join CBRE’s Miami office.

Shares in CBRE dropped 5.9 percent to $18.45 in early trading Monday on the New York Stock Exchange.