CBRE Chief Executive Robert Sulentic expects a sharp drop in foreign investment that will slow real estate growth. But the market will avoid recession.
The company has had a growth spurt since the last real estate downturn ended, posting new revenue records for eight consecutive years and finishing the third quarter with a profit of $257 million.
, chief executive of CBRE. “Foreign investors tend to like the big gateway markets and L.A. has been particularly big because of the entertainment industry.CBRE, known for decades as Coldwell Banker & Co., makes money on commissions from brokers who arrange sales and leases of offices, warehouses and other commercial property, and by managing real estate for corporations and other property owners. Its other real estate disciplines including investment and development of new properties.
Robert Sulentic, CEO of CBRE, a Fortune 500 real estate services company with headquarters in Los Angeles. Does that suggest that the real estate market will cool off? This positive cycle appears to be unusually long. “WeWork is going to have to work through their challenges. They have a well-known brand. We think the co-working market is going to be there independent of WeWork.
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