Shares of brokers lose shine as US commercial property market starts cooling
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COMMERCIAL property brokerages, the stars among US real estate stocks this year, are losing lustre as the booming market for deals shows signs of cooling.
CBRE Group and Jones Lang LaSalle, the global titans of property services, have lost 8 per cent and 8.7 per cent, respectively, this month, reversing sharp gains compared with real estate investment trusts and the Standard & Poor's 500 Index. HFF Inc tumbled 17 per cent and Marcus & Millichap fell 10 per cent.
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