Top News for Real Estate Pros
Cushman & Wakefield Plans More Cost Cuts As Earnings Drop?95%
戴德梁行 is the third major firm of its kind after? 世邦魏理仕 ?and? Newmark ?to announce declines in revenue and profits in the second quarter. "My No. 1 priority is ensuring that we’re being great stewards of our capital, balancing investing for future growth with maintaining a healthy balance sheet and a strong liquidity profile," CEO Michelle MacKay said during the company's earnings presentation.
US Property Prices Fall Further, Weighed Down by Apartments,?Offices
Despite slight gains in the past two months, the value-weighted index that reflects big property sales common in major cities has declined steadily year over year in 2023 across office, industrial, retail and multifamily, said Chad Littell, national director of U.S. capital markets analytics for CoStar.
The value-weighted sub-index for major multifamily sales fell 2.4% in the second quarter from the prior three months. It fell 14% from the second quarter of 2022, a time when U.S. apartment prices peaked.
Trucker Liquidation Expected To Flood Industrial Market With?Properties
In addition to a portfolio of thousands of trucks and trailers, Yellow is also a major owner and tenant of truck terminals and warehouses. The company said in its most recent annual report that it owns 166 properties and leases another 142 facilities.
Yellow will likely walk away from its active leases and landlords will be forced to file appearances as creditors in the bankruptcy case, said Andy Gutman, president of? Farbman Group .
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