Cushman & Wakefield Unveils Asset Optimization Group for Underperforming and Distressed Assets
December 18 2023 - 9:00AM
Business Wire
Cushman & Wakefield (NYSE: CWK), today announced its Asset
Optimization Group, renewing the company's commitment to supporting
lenders, investors and servicers of underperforming assets.
“Commercial real estate is a highly cyclical business and, over
the past few years has seen significant headwinds – from the
pandemic to a significant shift in the cost of money and
inflation,” said Revathi Greenwood, Head of Real Estate
Optimization at Cushman & Wakefield. “The Asset Optimization
Group provides integrated, tailored solutions to maximize recovery
for office, industrial, retail, and multifamily properties that are
underperforming or distressed in this new environment.”
Cushman & Wakefield will leverage its comprehensive suite of
services, including receivership, property management, leasing,
market research, asset and note sales, asset finance, valuation,
and advisory. The goal is to optimize asset recovery, mitigate
deterioration, and swiftly pursue the best resolution.
"Our clients need strategic solutions to maximize the recovery
of underperforming assets," said Andrew McDonald, Global President,
Cushman & Wakefield. "Given the current market conditions, we
formed the Asset Optimization Group – leveraging the expertise of
our Capital Markets, Asset Management, Asset Services, Valuation
& Advisory, Agency Leasing and Project Development Services
professionals in addition to our market research to support our
clients with immediate solutions for their assets.”
"These solutions for assets under duress are just one of the
responses we’re providing clients as they explore longer-term
solutions such as comprehensive property repositioning and even
repurposing,” said Marla Maloney, President of Americas Services at
Cushman & Wakefield. “Our relationships with investors, lenders
and servicers -- and our focus on understanding the uniqueness of
each asset -- contributes to a smooth receivership, stabilization
and maximum return on their investments.”
Cushman & Wakefield’s strategic insights and deep expertise
helps clients manage the complexity of today’s market – from
asset-level cashflows, funding tenant improvements, regulatory and
accounting issues, Greenwood said.
“What’s different this time around from the GFC is that today in
a lot of assets – particularly office - cashflows are compromised,”
said Greenwood. “Creating an asset-level business plan and cashflow
is critical to stabilize the asset and ultimately provide
liquidity. Our clients will be able to utilize the breadth of our
platform, wealth of information and deep market insights to help
them consider their options – both on individual asset-level
business plans and across portfolios of assets.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global
commercial real estate services firm for property owners and
occupiers with approximately 52,000 employees in approximately 400
offices and 60 countries. In 2022, the firm reported revenue of
$10.1 billion across its core services of property, facilities and
project management, leasing, capital markets, and valuation and
other services. It also receives numerous industry and business
accolades for its award-winning culture and commitment to
Diversity, Equity and Inclusion (DEI), Environmental, Social and
Governance (ESG) and more. For additional information, visit
www.cushmanwakefield.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231218979744/en/
Mike Boonshoft 212-841-7505
michael.boonshoft@cushwake.com
Cushman and Wakefield (NYSE:CWK)
Historical Stock Chart
From Apr 2024 to May 2024
Cushman and Wakefield (NYSE:CWK)
Historical Stock Chart
From May 2023 to May 2024