CBG is a fine company but to claim that it is reasonably cycle-resilient post-GWS acquisition is an exaggeration. Deriving 70% of fee revenue from contractual and purportedly recurring sources will not meaningfully cushion profits in the event of a commercial real estate swoon. From its roots as a regional commercial real estate broker founded in the aftermath of the 1906 […]
To access this post, you must purchase Annual subscription, Quarterly subscription or Monthly subscription.