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CBRE revenues rebound after pandemic declines

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Dallas-based commercial property firm CBRE Group reports that for the first time, its revenue from property sales and leasing has surpassed levels seen before the COVID-19 pandemic.

And CBRE’s profits from global real estate development in the most recent quarter doubled from where they were a year earlier.

CEO Bob Sulentic said that CBRE’s earnings per share were 70% or more above the third-quarter 2019 peak.

CBRE on Thursday reported income of $435.7 million, more than double profits of a year earlier. The company had revenue of $6.8 billion — up more than 20% from third-quarter 2020.

The real estate company’s revenue was more than $900 million ahead of where it was in first quarter 2020 before COVID-19. It was a record for the third quarter.

“We’re pretty happy with the way the business is going,” Sulentic said. “The market is showing us some good opportunity.”

Revenue from property sales rose more than 90% year-over-year and was 27%…

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