Global real estate firm Cushman & Wakefield (CW) has discussed a possible IPO as soon as the third quarter, reported Bloomberg Markets.
The anticipated IPO of the CW, the world’s third largest real estate brokerage, would be the first of a real estate company since Community Healthcare Trust Inc. went public in May 2015, according to data compiled by Bloomberg. Cushman & Wakefield has yet to make formal listing plans, Bloomberg’s sources said, and the IPO could be delayed until 2018.
The company has been making several high-profile hirings, especially in its Los Angeles and New York offices, in anticipation of a public offering, said analysts. John Cushman III, the company’s chairman of global transactions told The Real Deal that “The stars have to be aligned correctly when you do this, the economy has to be right. The real estate world has to be right.”