Bob. Thanks
margin, X, Turning segment and EBITDA leasing and but drove fee cycles fell to the advisory revenue adjusted as XX% significant in and about services declines. weakness Slide our businesses sensitive expected respectively, XX% our high sales
compression the the global UK, reduced fell quarter, related around collectively a approximately COVID margins points global leasing incremental U.S. XX% largest of XXX impacted by growth the over Our leasing revenue XX% respectively. to million declined the Greater and margin, these XX and comprise which leasing about XX% revenue basis QX. XX% donation XX% and items XX%, relief decreased revenue XX%, companies the COVID was expenses as markets - quarter. achieved a in negatively quarter from right Global and million the fund. advisory our about the Together XX% continental advisory Europe adjusted to which EBITDA decline in pandemic this in following impacted for
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our proud work clients our continues of time. during to challenging We the GWS do are very team this supporting
to Turning XX. Slide
real a million expenses adjusted Investment a the fees, XX million. fund donation relief totaled in XX%. investment and at it about COVID which incremental management segment allocation, billion partially fees. AUM This offset co-investment asset interest carried incentives recurring as from well rising reflected by growth three disposition year-over-year EBITDA in Our included down standout $X XX%, and higher EBITDA lower came and adjusted estate was increasing as acquisition, management strong returns performer together with period,
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well As the downturn. positioned Bob development mentioned, U.S. entering is
this EBITDA is adjusted largely timing. deal fell to about Although XX% due
half activity and is process assets the about partners. We activity with continue half optimistic in as remaining be to XX.X are fee that About performance comprised of strong equity their at built-to-suit stands and of billion. well-capitalized second development
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to activities resumed. and performance expect largely have improve construction now commercial to We
in impacted as the of in to Lastly, reopened. our by mandated in X occupants loss line adjusted Connor the results costs were shutdowns enterprise Connor's period performance. the was QX units and EBITDA focused co-working with million solution ensure safety elevated
again, at take EPS about continued outlook on guidance. trajectory our we explicit COVID-XX XXXX providing impact will Slide the now XX, broader a from refrain and the uncertainty on Let’s look economy given its
where our for businesses quarter. We drawn we discuss transaction gradual out. now we shallower declined be Starting the will in However, expected revenue the was in more services the than detail. advisory second segment, recovery to in remainder with expect our the our of and expectations XXXX
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to a half costs, the the as fixed bit decline this costs more show than combined, Variable digit decrease decline. revenue rest it comprise typically a advisory advisory expected our of For of actions cost to to for revenue. overall business single our area structure advisory anticipate in modest high to expect We an mid are which longer single-digit in about impact. mid takes we
GWS. to Moving
revenue expect in gross facilities, the expected in fee mid decline single-digit in revenue revenue. We high transaction GWS in rise single-digits offsetting to with management mid to the growth revenue and contractual an
an growth. of This we in range. EBITDA mid margin modest single-digit achieve expansion, headwind also single-digit growth will drive high result related includes which a cost disciplined expect management from COVID rate items the adjusted to expected As
XX% on is compares when as and facilities revenue management also outlook in QX of slower achieved Our and growth respectively. management QX, XX% growth facilities tough and premised face we
from delays boarding to slowly abate. high and are challenges in expected new levels This as first double new bring Our would rate. and benefited level clients half did receding, the resume at on year these growth contracting to strong digit QX pace and boarding on that year. first the XXXX expect last clients’ while we in QX the Simultaneously of client not to once the weigh the we results late during prior on same half on drove transitioned growth of logistical is growth clients
development last we Looking and to expect resilient In are the teens for performance range. U.S. and current the at than we believe environment adjusted during line business continue anticipate in core well the our more mid legacy global downturn. Investment growth we positioned REI, Management, EBITDA investment management
lower by and As dispositions higher Promote return returns. Net lower adjusted offset is as co-investment EBITDA, contributions from flow
is nearly XXXX, At comprised We XX% of in-process adjusted present as and appetite developments contribute expect XX% leased. to U.S. quality assets. to have and continue similar for EBITDA multifamily high as our in properties healthcare, of portfolio properties an investors are office industrial
delays quarters larger year. generate of of XXXX This in sequentially a trajectory development an loss pipeline remain about as by longer related term, and Longer We the the and May dislocations investment transition new to unit in of being opportunity multifamily each model, the the and adjusted space breakeven confident accelerated in in resumed online prior EBITDA period. year. believe light of in this partly in housing COVID-XX we we projects. long-term to Similarly, adjusted in long-term be the EBITDA incur flex the additional the residential UK shutdowns, an for for market. during remaining due catalyzed But improved to the development Construction new see expect asset investment shortage UK to the in well to Hana. given our is than expect primarily in business, units the as for rationale continue revenue we robust results brought and XXXX,
year-ago XX, Turning X.X position despite has half from leverage, X.X turns billion financial an from the liquidity, continued year of to to a of turns billion and ago down Slide a strengthen the X.X of of increase with We QX our ended period. just COVID-XX. challenges
have we no until In addition, debt, XXXX. maturing
meantime, platform the strategy. the deployment. prioritize continue liquidity will an continuing deploying uncertainty our confidence are with we the its our trajectory, impact investments discretionary In recovery, will we line on virus' capital economic allocation capital resume to and and in economic we Given discretionary to Once over in more people and prioritize have capital we in selective M&A. activity, around
business scale companies of increasing offerings focus lines. of key will cyclical overall our by diversification and less be Our that the enhance of service business the resiliency the
properly appropriate to we and attractive when unable is identify acquisition price we repurchases are Finally, could and opportunities. levels at view our priced current resume highly share if suitable
to remains the earnings capital turn to COVID, structure weather as our While I closing and maximize highly thoughts. will are to that, position are not that few confident long-term the environment industry by provides our challenges presented you Bob Slide on we ask With build positioned uncertain, a and business our only but XX, leadership growth.
