UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 14, 2010

CB RICHARD ELLIS REALTY TRUST

(Exact name of registrant as specified in its charter)

47 Hulfish Street, Suite 210, Princeton, NJ 08542

(Address of principal executive offices)

(609) 683-4900

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Duke Joint Venture Office Portfolio

The information disclosed under Item 2.01 of this Current Report on Form 8-K is incorporated by reference into this Item 1.01.

Third Amended and Restated Advisory Agreement

On December 21, 2010, the Company entered into that certain third amended and restated advisory agreement (the “Amended Advisory Agreement”) with CBRE Operating Partnership, L.P., the Company’s operating partnership (“CBRE OP”) and CBRE Advisors LLC, the Company’s investment advisor (the “Investment Advisor”). The Amended Advisory Agreement contains the same terms and conditions as the Second Amended and Restated Advisory Agreement dated January 30, 2009, except that the term of the agreement has been extended to April 30, 2011, subject to an unlimited number of successive one-year renewals upon the mutual consent of the parties.

The foregoing description of the Amended Advisory Agreement is qualified in its entirety by reference to the text of the agreement which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

Duke Joint Venture Office Portfolio

On December 17, 2010, Duke/Hulfish, LLC, a joint venture (the “Duke Joint Venture”) between CBRE OP and Duke Realty Limited Partnership (“Duke”), the operating partnership of Duke Realty Corporation (NYSE: DRE), entered into a purchase and sale agreement (the “Purchase Agreement”) with Duke, Duke Secured Financing 2009-1PAC, LLC and Duke Realty Ohio, affiliates of Duke, for the acquisition of up to $516,650,000 in office real property assets (the “Office Portfolio”). The Office Portfolio consists of 20 office properties (each a “Property” and together the “Properties”) that are expected to be contributed to the Duke Joint Venture in three separate tranches. CBRE OP owns an 80% interest and Duke owns a 20% interest in the Duke Joint Venture. On December 21, 2010, the Duke Joint Venture acquired fee interests in the first tranche of Properties as described further below.

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The following table summarizes the remaining Properties in the Office Portfolio expected to be acquired by the Duke Joint Venture. Closing of each Property is subject to certain contingencies and there is no assurance that any of the Properties listed below will be acquired by the Duke Joint Venture.

List of Remaining Expected Properties

Upon the entry into the Purchase Agreement, CBRE OP and Duke entered into an amended and restated limited liability company agreement (the “Amended and Restated LLC Agreement”) for the Duke Joint Venture. The Amended and Restated LLC Agreement generally contains the same terms and conditions as the Limited Liability Company Agreement between CBRE OP and Duke dated June 12, 2008, except for the following material changes: (i) Duke has granted the Company a call option to acquire Duke’s entire interest in the Duke Joint Venture which such interest shall be valued based on the opinions of qualified appraisers and which the Company can elect to exercise anytime after June 30, 2012 upon the occurrence and adoption by resolution of certain triggering events and (ii) the Duke Joint Venture has certain rights to participate in the development of certain adjacent and nearby parcels of land currently owned by Duke.

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The foregoing descriptions of the Purchase Agreement and the Amended and Restated LLC Agreement are qualified in their entirety by reference to the text of the agreements both of which are attached hereto as Exhibits 10.2 and 10.3 and are incorporated herein by reference.

Acquisition of Rickenbacker III (National Industrial Portfolio)

The Company, through a subsidiary of CBRE OP, has acquired the seventh and remaining property in the portfolio of seven warehouse distribution centers (collectively, the “National Industrial Portfolio”), previously disclosed on its Current Report on Form 8-K filed November 2, 2010, using the net proceeds from its current public offering, as detailed below.

Upon closing, the Company paid the Investment Advisor a $206,250 acquisition fee.

First Quarter Distribution

The Company’s board of trustees has approved a quarterly distribution to shareholders of $0.15 per common share for the first quarter of 2011. The distribution will be calculated on a daily basis and paid on April 15, 2011 to shareholders of record during the period from January 1, 2011 through and including March 31, 2011.

Extension of the Company’s Current Public Offering

The Company’s board of trustees has approved an extension of its current public offering until January 30, 2012. Under the rules promulgated by the Securities and Exchange Commission, the Company could continue its current public offering in some circumstances until July 28, 2012. If the Company extends its current public offering beyond January 30, 2012, the Company will provide that information in a prospectus supplement. In many states, the Company will need to renew the registration statement or file a new registration statement to continue its current public offering for these periods. The Company may terminate its current public offering at any time.

To be filed by amendment. Pursuant to Item 9.01 of Form 8-K, the registrant hereby undertakes to file financial statements filed in response to this item on an amendment to this Current Report on Form 8-K not later than 71 calendar days after the date that this Form 8-K must be filed.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.