Rising Activity Reflected in Profit Gains at Commercial Property Firms
Tuesday, October 26, 2010
Source: Reuters
Reuters reports: Providing yet another signal of the improving investment market for commercial property, Reuters recently reported that CB Richard Ellis and Jones Lang LaSalle, two of the world’s largest commercial real estate services companies, registered stronger-than-expected earnings growth over the third quarter. According to the report, the firms benefited from rising US building sales and leasing, as well as “the slow rebirth of the U.S. commercial mortgage backed securities market (CMBS) and loosening of lending by banks…”
This growth in sales has been recorded and forecasted by Real Capital Analytics (RCA), which the article quotes as expecting US “…sales to top $100 billion in 2010, nearly double the $54.4 billion in 2009.” RCA also recently reported that the third quarter of 2010 was the strongest quarterly period in two years, with expectations that the fourth quarter will post significant gains as companies look to close deals before the end of the year.
For more information on commercial property firms’ quarterly results, please see the full article on Reuters’ site.
View the full article on Reuters: Rising Activity Reflected in Profit Gains at Commercial Property Firms
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