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Thursday, May 22, 2003

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Cushman & Wakefield to offer financial advice

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CUSHMAN & Wakefield, the real estate consulting firm, on Tuesday announced that it would offer its clients financial advice on managing their existing property or get the best out of their surplus cash by investing in commercial space.

The company plans to offer a range of services and innovative solutions that would enable companies sitting on real estate to unleash its full potential, while others with idle cash to invest in property can maximise their returns, according to the Executive Director, Mr Sanjay Verma.

"The group will work closely with corporate clients to explore possibilities of unlocking capital from real estate portfolio and also advise at the strategic level to have optimal structuring of real estate assets in the overall balance sheet to help clients achieve cash flow and promote efficient use of capital and credit resources, besides mitigate tax burdens," he added.

For large corporates with large accumulated assets showing up as "dead investments" in their balance sheets, Cushman & Wakefield has several innovative solutions such as sale and lease back, which helps unlock capital from the property.

"On the other hand, if a client was sitting on large cash reserves, investing in income generating assets like commercial property would be a good idea as it would provide them with a depreciation tax shield."

The company also plans to work with financial institutions and developers to organise debt or equity for expansion plans.

Such products include lease discounting, where the developer would be able to raise capital on the basis of existing lease arrangements with other companies.

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