Chicago real estate giant Cushman & Wakefield, which is backed by Fort Worth investment firm TPG, could make its stock debut as early as this year, according to reports.
TPG acquired Cushman for $2 billion in 2015 and folded it into its Asian-based DTZ arm. The combination created the third largest real estate brokerage in the world. The company has long been exploring an IPO and is now interviewing potential advisers to take it public, according to Bloomberg.
Cushman moved its headquarters from New York to Chicago in recent years. The company has been building out its North Texas presence and has more than 100 local licensed agents. It’s also the 12th-largest property manager in Dallas, overseeing more than 14 million square feet of space.
Shares of its larger, public rivals have been on the rise in the past year as the U.S. and global economies have brightened. CBRE shares are up more than 37 percent since this time last year, and Jones Lang LaSalle is trading up nearly 63 percent over that time.
Largest North Texas Commercial Real Estate Brokerages
Ranked by Total # of Local, Licensed Agents
Rank Company Total # of Local, Licensed Agents 1 CBRE 280 2 JLL 197 3 Cushman & Wakefield 101 View This List