Savills’ revenue up despite resi dip
Savills has reported a 15% increase in group revenue to £714.4m and a 12% increase in underlying profit to £48.1m in its half-year results. The agent said its performance in the UK had been “resilient” in the six months to the end of June, with strong performance in the commercial market offsetting a slight decline in UK residential revenue.
CBRE buys Canadian investment manager
CBRE has bought a majority stake in Caledon Capital Management, a Toronto-based investment management business specialising in private infrastructure and private equity investments. Caledon will now operate as CBRE Caledon Capital Management (CBRE Caledon), a separate business unit within CBRE Global Investors.
Cushmans wins Sansbury’s contract
Sainsbury’s has hired Cushman & Wakefield to replace CBRE on its portfolio of 2,000 properties, as it integrates Home Retail Group. The integration creates a portfolio of more than 2,000 stores and operational properties, all of which will be brought under the new contract.
Blackstone and Starwood merger
A merger between Blackstone’s Invitation Homes and Starwood Waypoint Homes will create a $20bn (£15bn) single-family home rental company in the US. It will have 82,000 homes, with nearly 70% of revenue coming from Western US and Florida.
