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Cushman & Wakefield has filed for an initial public offering.
The filing shows that the commercial-real-estate-services firm is anticipating a global commercial real estate market that will continue to grow and to draw institutional investors, reports Business Insider.
Cushman & Wakefield, whose total revenue approached nearly $7 billion in 2017, currently operates across 70 countries and employs about 48,000 people. The company intends to use the IPO proceeds to reduce some $3 billion in long-term debt, according to the filing.
European brokerage firm DTZ Jersey Holdings purchased Cushman & Wakefield for $2 billion in 2015, backed by private-equity giant TPG Capital.
By Brannon Boswell
Executive Editor, Commerce + Communities Today
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