Cushman & Wakefield reported financial results for the third quarter of 2025 on October 30, 2025, citing strong growth across its platform and a continuation of positive trends in capital markets revenue.
The commercial real estate services firm announced revenue of $2.6 billion for the quarter, an 11% increase compared to the third quarter of 2024. Service line fee revenue reached $1.8 billion, up 9% year-over-year. According to the company, this marks the fourth consecutive quarter of double-digit growth in capital markets revenue.
“We continued to drive strong growth across our platform, as the multiplier effect around our transformational growth strategy propels us forward,” said Michelle MacKay, Chief Executive Officer of Cushman & Wakefield. “In the third quarter of 2025, we reported 9% service line fee revenue growth, achieving our fourth consecutive quarter of double-digit Capital markets revenue growth and accelerating organic Services revenue growth to 7%.”
Leasing revenue saw a 9% increase, driven primarily by activity in office and industrial leasing within the Americas. Capital markets revenue experienced a more substantial rise of 21%, attributed to strong performance across various asset classes and deal sizes in the same region. Services revenue increased by 6%, with organic Services revenue growth accelerating to 7%.
The company also announced the prepayment of an additional $100 million in term loan debt, bringing cumulative debt prepayments over the past two years to $500 million. This action followed record cash flow generation during the third quarter.
Cushman & Wakefield’s financial performance in the third quarter reflects a broader trend of growth within the commercial real estate sector, though specific market conditions vary. The company’s focus on integrating its business lines and providing advisory services to clients remains a key component of its strategy.
