Cushman & Wakefield plc Ordinary Shares - CWK STOCK NEWS

Cushman & Wakefield (NYSE: CWK) has appointed Angela Sun to its Board of Directors, effective November 1, 2021. Sun brings extensive experience from her roles at Rise Health Group and Alpha Edison, and has a significant background with Bloomberg L.P. where she led strategy and corporate development. Her diverse expertise across sectors like technology and healthcare is expected to enhance the company's ability to deliver innovative solutions. Brett White, CEO, expressed confidence in her contribution to the firm’s goals.

Cushman & Wakefield (NYSE: CWK) reported a strong second quarter for 2021, with revenue of $2.2 billion, a 29% increase year-over-year. Fee revenue surged 39% to $1.6 billion, driven by robust growth in leasing and capital markets. Adjusted EBITDA reached $219.9 million, up 85%, and net income was $52.7 million, reversing a loss from the previous year. The company has substantial liquidity of $2.1 billion, including $1.1 billion in cash. An executive transition was also announced, with John Forrester appointed as the new CEO effective January 1, 2022.

Cushman & Wakefield (NYSE: CWK) represented Hines Global Income Trust in 10 tenant signings, totaling approximately 170,000 SF at the Cottonwood Corporate Center in Salt Lake City since March 2020. This Class A office campus spans 490,030 square feet and has attracted various tenants from industry sectors such as finance and pharmaceuticals. Cushman & Wakefield highlights the location's desirability, proximity to freeways, and on-site amenities, indicating potential for future tenant activity. The project is LEED certified and ENERGY STAR rated, enhancing its market appeal.

Cushman & Wakefield (NYSE: CWK) announced the release of its 2020 Corporate Social Responsibility (CSR) Report, highlighting significant achievements in environmental, social, and governance (ESG) efforts during a challenging pandemic year. Key points include a commitment of $5 million to assist employees affected by COVID-19, over 2,800 research insights published, and recognitions such as 'Best Employer for Women.' The firm achieved a reduction in scope 1 and 2 greenhouse gas emissions by 1.1% and committed to aligning its practices with UN Sustainable Development Goals.

Cushman & Wakefield (NYSE: CWK) will announce its second quarter 2021 financial results on August 5, 2021, at 4:05 p.m. EDT. Following the release, management will conduct a conference call at 5:00 p.m. EDT to discuss results. Interested parties can join via phone at 1-855-327-6837 or through an international line at 1-631-891-4304, using Conference ID: 10015498. A live webcast of the call will be available on the company’s investor relations website. An audio replay will also be offered shortly after the call.

Cushman & Wakefield (NYSE: CWK) has successfully advised American Life, Inc. in securing $122.7 million to refinance the 255 South King Street property, a 717,684-square-foot office and hospitality asset, with funding from PCCP. The property includes a Hilton Embassy Suites hotel and an office tower, both bolstered by strong credit support despite pandemic challenges. The hotel is experiencing a recovery, attributed to its favorable location near key amenities in Seattle. This transaction highlights Cushman & Wakefield's commitment to the regional market and its long-term client relationships.

Cushman & Wakefield (NYSE: CWK) facilitated the sale of The Switchyard, a 150,450-square-foot Class A office campus in Los Angeles, for $80 million to SteelWave. The two buildings were vacant at the time of sale and represent a significant investment in the area, reflecting renewed interest in office spaces. The switchyard, constructed in phases over the last decade, includes modern amenities and is strategically located. SteelWave plans to enhance the campus's exterior and on-site amenities, further promoting its potential as a unique headquarters opportunity.

Cushman & Wakefield (NYSE: CWK) has facilitated a $115 million industrial build-to-suit financing for Highland Cross, a 360,000-square-foot facility in Rutherford, New Jersey, acting as the exclusive adviser to Lincoln Equities Group. The financing was secured through PCCP, LLC, with the facility fully pre-leased to an investment-grade tenant. This prime location offers accessibility to major transport routes and a consumer base of 18 million within an hour's drive, positioning it as an attractive investment in the Northern New Jersey industrial market.