Sunday, May 1, 2011

Commercial Real Estate Broker Income Soars

Bernanke's money printing is making the rounds. (It will get tp you eventually.)

Los Angeles-based CB Richard Ellis Group Inc. said income from arranging property sales grew robustly, led by strong activity in Asia and North America. Revenue from brokering leases also rose, posting gains on top of a solid quarter a year earlier.

"This year's first quarter comes against a backdrop of steadily improving market fundamentals globally," Chief Executive Brett White said in a statement. "Looking ahead, general market trends remain favorable with rising transaction activity and improving fundamentals across most of the world."

First-quarter profit was $34.4 million, or 11 cents a share, compared with a loss of $6.6 million, or 2 cents a share, in the year-earlier quarter. Excluding one-time charges, profit would have been 13 cents a share, 1 cent more than the average of analysts' expectations.

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