A new report in Bloomberg says that companies are selling their real estate at the fastest pace ever. “Firms across Europe, the Middle East and Africa sold 27 billion euros ($32 billion) of corporate properties in 2020,“ according to a report by broker Jones Lang LaSalle Inc.
“That was slightly more than a year earlier, even as overall real estate deals collapsed during the pandemic. Companies are ditching property to ‘preserve capital and release liquidity, as well as to reshape their portfolios to support post-pandemic business plans,’ said Nick Compton, head of corporate capital markets for EMEA at JLL. ‘Just over a third of corporate sales were office properties, with volumes jumping 10% from the previous year.’ “