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CHICAGO - In a strategic move to enhance its presence in the seniors housing sector, global commercial real estate services firm Cushman & Wakefield has announced the addition of two industry veterans, Josh Jandris and Brett Gardner, to its team. Appointed as Vice Chairs, the duo brings a wealth of experience, having closed investment sales in excess of $15 billion in seniors housing properties.
Jandris and Gardner will operate from the Chicago office, focusing on a range of seniors housing investments, including skilled nursing, assisted living, memory care, independent living, and continuing care retirement communities. Their expertise is expected to benefit institutional and private-capital investors navigating the increasingly dynamic seniors housing market.
Their recruitment is timely, following a robust year for the sector. In 2024, seniors housing trades valued at $25 million or higher surged by 80%, reaching $6.24 billion, buoyed by rising occupancy rates and rent growth. The Urban Land Institute’s late 2024 poll highlighted seniors housing as the second most promising sector for risk-adjusted returns. InvestingPro data reveals the company maintains strong liquidity with a current ratio of 1.15, positioning it well to capitalize on market opportunities. Subscribers can access 13 additional exclusive ProTips about CWK’s market position and growth potential.
Blake Okland, President of Multifamily Capital Markets at Cushman & Wakefield, praised the addition of Jandris and Gardner, describing them as leading figures in seniors housing investment sales and a significant boost to the firm’s capital markets platform. Similarly, Miles Treaster, President of Capital Markets, Americas, at the firm, emphasized their proven advisory track record and their role in the company’s growth strategy.
The move also creates synergies with Cushman & Wakefield’s existing seniors housing capabilities and its joint venture with Greystone, a top commercial real estate finance company. Greystone’s Head of FHA Lending, Nikhil Kanodia, hailed the addition as a game changer, positioning them as a comprehensive service provider for seniors housing investors.
Cushman & Wakefield (NYSE: CWK) reported a revenue of $9.4 billion in 2024 and is recognized for its award-winning culture. The firm’s expansion in the seniors housing market aligns with its commitment to never settling for ’better’ and is a testament to its growth initiatives across the Americas Capital Markets.
This information is based on a press release statement from Cushman & Wakefield.
In other recent news, Cushman & Wakefield reported fourth-quarter earnings and revenue that exceeded analyst expectations. The company posted adjusted earnings per share of $0.48, surpassing the consensus estimate of $0.47, while revenue reached $2.6 billion, significantly higher than the projected $1.9 billion. The firm experienced strong growth in its Capital Markets segment, with revenue increasing 35% year-over-year to $247.5 million, attributed to stability in interest rates and increased investment sales activity. Leasing revenue also grew by 6% year-over-year, primarily driven by office leasing in the Americas, though Services revenue saw a decline of 3%. For the full year 2024, Cushman & Wakefield reported a net income of $131.3 million, a significant improvement from a net loss of $35.4 million in 2023, with adjusted EBITDA rising 2% to $581.9 million. The company concluded the year with $1.9 billion in liquidity, and CEO Michelle MacKay expressed optimism for 2025 due to improving investor and occupier sentiment.
In other developments, Raymond James adjusted its price target for Cushman & Wakefield shares from $16.00 to $15.00 while maintaining an Outperform rating. Analyst Patrick O’Shaughnessy noted positive momentum in the company’s brokerage revenue and improvements in free cash flow, although he highlighted challenges such as slower growth compared to peers and ongoing investments that may affect short-term profitability. Despite these challenges, O’Shaughnessy suggests that a potential cyclical rebound could lead to significant earnings per share growth, presenting an attractive scenario for investors.
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