Cushman & Wakefield Plc - CWK STOCK NEWS

Cushman & Wakefield (NYSE: CWK) has successfully arranged the sale of a five-property portfolio comprising 1,011 apartment units in Orlando and Tampa for $101.25 million. The sellers, Amzak Capital Management and The Focus Group, were represented by Mike Donaldson and Nick Meoli. DASMEN Residential, the buyer, plans to enhance the properties, potentially increasing gross income by $3 million. Recent renovations and investments totaling $9 million were made by the sellers. The sale reflects strong interest from out-of-state investors in Florida's booming real estate market.

Cushman & Wakefield (NYSE: CWK) facilitated the sale of 170 acres of land on behalf of Schuck Communities and secured a lease for a 1-million-square-foot distribution center for a national home improvement retailer in Commerce City, Colorado. The transactions involved the sale of 158 acres and 12 acres to Becknell Industrial, which will develop the facility. This multi-transaction project underscores the collaboration between quality developers and municipalities to drive economic growth and job creation in the region.

Cushman & Wakefield (NYSE: CWK) acted as the exclusive advisor to Camber Real Estate Partners in securing $69.5 million for financing the Crossings Industrial Portfolio. This 25-building, 1.2-million-square-foot light industrial portfolio spans Bucks County, Philadelphia, and Southern New Jersey, with financing provided by Natixis. The portfolio has shown strong performance during the COVID-19 pandemic, highlighting a diversified tenant roster and high demand. The financing will support Camber's plans to optimize assets in response to the region's growing need for quality light industrial space.

Cushman & Wakefield (NYSE: CWK) reported a 4Q 2020 revenue of $2.3 billion, down 13% year-over-year, driven by impacts from the COVID-19 pandemic. Full-year revenue fell to $7.8 billion, a 10% decrease. The company posted a net loss of $27.3 million for 4Q and $220.5 million for the full year. Adjusted EBITDA decreased 34% in 4Q to $198.1 million, and 31% for the year, totaling $504.3 million. Despite challenges, CWK generated over $300 million in cost savings and reported liquidity of $2.1 billion as of year-end.

On February 23, 2021, Cushman & Wakefield announced that Prominence Tower in Atlanta has earned the Fitwel 1 Star Rating for its health-focused building strategies. This certification is significant as Prominence Tower is the only building in Georgia to achieve it under the Multi-Tenant Base Building standard. In the past year, the building saw over 50,000 sq ft of leasing activity. Additionally, it received both LEED Gold and Wired Certified Platinum designations in 2020, further affirming its commitment to health and sustainability.

Cushman & Wakefield (NYSE: CWK) announced the hiring of a leading multifamily investment sales team, including Chris Sower, Bruce Lusa, Jon Bryant, John Flaherty, and Kevin Jones. Led by Executive Managing Director Sower, the team will operate in Boston and enhance the firm’s multifamily capabilities in Greater New England. With a focus on acquisitions and joint ventures, the group brings over $5 billion in sales volume. This strategic expansion follows Cushman & Wakefield's acquisition of Pinnacle Property Management Services, strengthening its national multifamily platform.

Cushman & Wakefield (NYSE: CWK) has been recognized for the 10th consecutive year in the 2021 Global Outsourcing 100® list by IAOP, marking significant achievement in the outsourcing sector. The firm ranks in the Leader category for large global firms, evaluated on Customer References, Awards, Innovation Programs, and Corporate Social Responsibility. CEO Bill Knightly emphasized the challenges faced during the past year and the company's commitment to support clients with innovative solutions. Cushman & Wakefield continues to optimize real estate portfolios, ensuring excellence in service delivery.

Cushman & Wakefield (NYSE: CWK) has been appointed by Argent Ventures to manage 115 Tabor Road, a 465,133-square-foot office building in Morris Plains, New Jersey. This marks the third property management relationship between the two firms. The building is transitioning from a single-tenant to a multi-tenant Class A office space, featuring upscale amenities such as a corporate cafeteria, a state-of-the-art fitness center, and structured parking for over 1,000 cars. The property is strategically located near commuter rail services.