CB Richard Ellis, the Los Angeles property services firm, has emerged as favorite to acquire the majority of ING’s real estate group to create the world’s largest property funds business with more than $100 billion under management.

CBRE, the world’s largest property consultancy with 29,000 staff and more than 300 offices worldwide, is the frontrunner to buy the global real estate investment management platform, according to sources close to the negotiations. Final terms are expected to be agreed in the next few weeks.

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&#8226 CLICK HERE to read the Reuters story.