PropertyAwards: CB Richard Ellis has taken two prizes at the 2004 Property Awards ceremony in London, winning both the International Achievement of the Year and the UK Property Investment Team of the Year.

Over a year ago, CB Richard Ellis announced its intention to merge with Insignia Financial Group to form a major advisory firm with over 13,500 employees in 220 offices in 48 countries. As a result of the merger, the award for International Achievement went to CB Richard Ellis, the first time a property advisory firm took the honours.

The investment award stemmed from the fact that the company pulled off two of the biggest global deals last year. In just 47 days, it completed the £695 million sterling (€1.05 billion) sale of the Chartwell land portfolio in the UK and then shortly after that the combined strength of the CBRE worldwide network was involved when the US Blackstone Real Estate Group acquired Germany's biggest ever property transaction with the acquisition of the Deutsche Bank property portfolio.

Pat Gunne, managing director of CB Richard Ellis Gunne in Dublin, said the merger had resulted in exceptional benefits for their clients and themselves.

These two awards confirm that this forms part of a leading ground-breaking firm.