So CW is for sale. It's interesting to me when you see this kind of cash out if all other economic indicators that I've seen are that CRE is a growing field. I'd be interested to hear everyone's thoughts on the sale.
http://www.wsj.com/articles/cushman-wakefield-going-up-for-sale-1424820…
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they won't sell to a direct competitor and prefer a privately held buyer. Not sure who that leaves to buy it.
That's huge news.
@"StanCRE" TPG and Blackstone certainly come to mind...
Those guys won't pay 10x EBITDA. I honestly don't see why the current owners care who the buyer is. If anything, the most competitive bidder will be another top brokerage firm. I wouldn't be surprised with CBRE and JLL going into a bidding war if they allowed other brokers to buy.
Not too familar with C&W, but if they are particularly good in a certain asset class, one of the other brokers would look to acquire them to beef up that group.
You could be right, but I don't really think that CBRE or JLL have a ton to gain outside of brokerage talent itself. I would think that they'd set aside cash to buy out some rainmakers in major markets than go for the whole organization.
shit is getting crazy at massey knakal
yeah, it's going to get interesting over there I'm sure
Why? They're essentially C&W now. What's the difference between being Massey Knakal and C&W in this process?
The quick turnover in CEO's could be a factor. Not wanting to be in the business anymore is another. We just don't know and we certainly shouldn't label this the peak of the market just because C&W is selling.
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