Commercial real estate services giant Cushman & Wakefield PLC has agreed to pay $500 million for a 40% stake in the rental apartment lending and loan servicing business owned by Greystone & Co., the companies said, in the latest sign of the strength of the rental apartment industry.
that has about 400 offices in 60 countries, has been a major player in the rental apartment brokerage business, representing sellers in more than $11 billion of deals last year. The deal with Greystone marks an expansion by Cushman into the business of making loans to buyers and owners and servicing those loans.
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