Cushman & Wakefield plc Ordinary Shares - CWK STOCK NEWS

Cushman & Wakefield (NYSE: CWK) has appointed John O’Neill as President of U.S. Multifamily Capital Markets, effective immediately. O’Neill previously led the firm’s U.S. Central region and will continue working from Atlanta. His focus will be on enhancing the multifamily capital markets service line and leveraging a strategic joint venture with Greystone, where CWK holds a 40% stake in Greystone’s Agency, FHA, and Servicing businesses. This move follows CWK's acquisition of Pinnacle Property Management Services, reinforcing its position in the multifamily sector.

Cushman & Wakefield (NYSE: CWK) has finalized a strategic investment of $500 million in Greystone, acquiring a 40% stake in its Agency, FHA, and Servicing businesses. This partnership aims to enhance advisory services and capital solutions for clients nationwide. Greystone will leverage the investment to develop innovative products and expand its offerings. The collaboration will provide Cushman & Wakefield's clients with better access to a wide range of debt products, strengthening their multifamily platform in the U.S.

Cushman & Wakefield (NYSE: CWK) has successfully arranged the $75 million sale of the Country Club apartment community, comprising 454 units in Charlotte, North Carolina. The transaction was facilitated by Watson Bryant and Brooks Colquitt, representing the seller, JEM Holdings. Jessica M. Saks, COO of JEM, noted the successful execution of a value-add strategy in a rapidly growing market. The property is well-positioned for future rental growth with limited nearby supply, according to Colquitt. The firm has a robust market presence, ranking No. 1 in Sunbelt market share with $6.2 billion in multifamily and land sales in 2020.

Cushman & Wakefield (NYSE: CWK) acted as the exclusive advisor for Lincoln Equities Group and PCCP, securing $107.4 million in acquisition and construction financing for the Bayonne Logistics Center – Building 100 in Bayonne, NJ. The financing was provided by Brookfield for a 332,640-square-foot industrial complex on a prime 45.4-acre portside site. Construction completion is expected in October 2022. This project capitalizes on the strong demand in the Port region’s industrial market.

Cushman & Wakefield (NYSE: CWK) has completed the sale of Riverchase Landing, a 468-unit apartment community in Birmingham, Alabama, for $67.1 million. The transaction was facilitated by Jimmy Adams, Craig Hey, and Andrew Brown, representing seller ApexOne Investment Partners, while Kushner Companies acquired the property. The new ownership aims to enhance the property through a value-add campaign targeting the growing renter pool in Hoover suburb.

The company's Sunbelt Multifamily Advisory Group is noted for significant market presence, with over $6.2 billion in multifamily and land sales in 2020.

Cushman & Wakefield (NYSE: CWK) represented Prologis, Inc. in acquiring the Safari Business Park, a 441,569-square-foot industrial park in Las Vegas, Nevada. This property features five multi-tenant buildings and was approximately 82% leased at the time of sale. The leasable suites range from 10,280 sf to 15,300 sf. Cushman & Wakefield has been retained for Project Leasing, a strategic initiative led by their team to enhance the park's market presence.

Cushman & Wakefield (NYSE: CWK) reported strong third-quarter 2021 results with revenues of $2.3 billion, a 21% increase year-over-year. Fee revenue rose 28% to $1.7 billion, led by a 112% rise in Capital Markets. Net income reached $68.7 million, translating to $0.30 per share. The company announced a strategic 40% investment in Greystone, enhancing its multifamily lending capabilities, and formed a partnership with WeWork to improve office operations. Adjusted EBITDA increased 87% to $219.1 million, with a margin of 12.9%, marking significant operational efficiencies.