IPO Report: Cushman & Wakefield’s IPO: Here are 5 things to know

Cushman & Wakefield, a giant real-estate services firm, has filed for an initial public offering, it said in June, citing its past record of success, broad footprint, and the “growing” industry in which it operates.

But a review of Cushman’s IPO filing shows a company that’s stretched by a heavy debt load, and raises several red flags for would-be investors.

Cushman has been owned by a private-equity consortium since 2014. It has a presence in 70 countries and manages approximately 3.5 billion square feet of real estate, it said in its initial filing with the Securities and Exchange Commission.

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