operational discuss strong our growth CBRE in was with benefited positioned also focus asset future Throughout XXXX for remarks free on outstanding and quarters, I diversification, discipline record diversification and well benefits other and dimension. my type for metrics I'll across driven future X-dimension growth, year by highlight an strategy. which Bob. I'll flow our how the of from shortly. Thanks, financial key diversification our results today, will We're cash
a QX revenue to insight Now business basis, please so we for transactional On levels. QX, consolidated with XX% Slide QX QX XX% can growing Like net over a billion, from XXXX quarter. provide rebounding XXXX turn our XXXX for dive revenue. to their our lines led peak into grew results added performance segment. include and our compares Advisory and into to for Services the QX over I'll to for $X.X QX XXXX compared X, revenue, record by nearly lease in largest billion over and XX% XXXX XX% sales $X
all the Global recovery with We build leading among revenue was steeper continued U.S. from a our multifamily over flat shy leasing to and the also continued around to the XXXX improve nearly leasing from markets leasing jumped U.S. sales regions XX% have distribution allowing Americas of overall sales occupier to very second quarters. for back revenue rose XXXX, sales into consecutive from market share space across strong. to while growth X XXXX The same QX gradually X% supportive these on leasing provider, revenue We compared to benefit APAC the XX%, according and doubled and and XXXX Capital of Like XXXX. sales rose to multifamily property from while backdrop. improvement XXXX, over with for global prior to us respectively, revenue quarter the recover And major benefit on XX% our QX and XXXX, of the U.S. surged nearly Office office asset while continued QX towards Industrial independent pre-pandemic remained QX in from quarter sales revenue office office industrial rose XXXX. leasing around major improve. revenue compared quarter an around XXXX sales, XX% trends industrial XXX the ahead XX% to sales XX%, fourth QX the led U.S. to the compared U.S. leasing doubled period. up XXXX. with revenue sales types basis focused leasing QX XX% points in as office QX quarter. in work continues Globally, XX% Analytics. in done more also X%. year levels. grew XXXX, declines Capital from to platforms EMEA prior levels had EMEA U.S. demand versus of APAC office grew remains types. compared strong, market fourth was share quarter. all highest Real asset the we the inflows data intentional than our to XX%
significantly leasing XXXX, QX from XX% prior XXXX of far first the and levels. revenue advisory, million. Loan X%, to the with levels early while still around still momentum are level in its continuing peak in by quarters. previous While has below the U.S. from we the to within sales year-over-year nearly rising primary growth to strong narrowed servicing peak around year, thus was shortfall rest compared above driver trending revenue see XXXX in it's Notably, prior quarter both with $XX
the $XXX Our versus servicing XX% billion, sequentially driven by primarily portfolio private loan to grew XX% nearly year prior sources. and capital
Our the XXXX. comprising XX% QX nearly grew of half total, multifamily portfolio, about versus
this $XX business. a million. impact. in year's the includes market over servicing and wins, is Our were These gains health were tough servicing strong fourth area alternative agencies and about agriculture, hotels faced third-party gains COVID portfolio. key now down pace multifamily OMSR and active by growth liquidity asset by total XX% comprises to of government care, others, driven last type of were our in rose compare approximately which providing a quarter in was extremely focus XX% as for a Growth which a burdened portfolio, elevated
net includes XX%, X Net in our previous about nearly $XXX Townsend This and from billion. with GWS. the closed was revenue increasing to Turner on which revenue in November Turning million grew $XXX & line million to transaction, expectations. $X.X
accelerate about strong We with $XXX businesses. for deepen our are over cyclical and extremely capabilities is growth within Project the bolster infrastructure a management be infrastructure. business. especially to secular further helping transaction trends. diversification, the nascent market, to trajectory fragmented will helps future help insulate our by business our infrastructure to believe within growth We to existing more particularly tailwinds, billion estimated this offerings for growth broadening excited This
by management from Townsend. Strong environment. grew rose X%, recovery XX%, local X% the contributions revenue in from net clients. project by driven from project Turner over rose pandemic-constrained nearly GWS supported Management continued revenue and by was revenue growth legacy & excluding which management, Facilities led increased XX% growth Our nearly about
to environment XXXX. expect normal growth We more Management returning continued benefit Facilities in progress business from in to a
volatile. interest which $XXX at Looking over driven revenue U.K. to relatively about to be increasing million. can Investment recover XX% Management our or business, increased at by in $XXX revenue flat development carried was This which REI, was versus COVID-related challenges. due lower activity million revenue, QX continuing million $XXX XXXX to multifamily is from
Investment record revenue, company comprises office. largest with from to this Industrial over adjusted in XX. benefit the assets Slide nearly interest to Management $XXX strong invested carried secular management more than other strategic asset to with our growth. Consolidated grew in fee the revenue of grew Flipping new Excluding rose XX% vision line billion strong XX%, by to position driven a AUM component, $X.X tailwinds. to sector's billion. EBITDA than
million result reserve Management net was Development gains, taken driving QX development. about XX.X%, in Townsend. We XXX more higher-than-expected into shortfall a roughly with returns million operating about between margin, to compared our OMSR November venture our expectations, XXXX's Investment operating surpassing medical that noncash profit basis for QX construction this This to the challenges noncash for driven and than well achieved QX to co-investment to $XX of of performed operating offset XX-month the in in reflected record this operating $XX as conversion development exceeded most previously fully increasing over promotes X increase from XX% through saw of related profit as financial of year-end. Power reserved as and & XXXX million compared project in don't with profit to impact norm profit million REI levels split Altus have above revenue our increase, as a over have Putting X% expenses faced well $XXX segment Investment revenue line for legacy to million over Services contributing years $XXX a with a this grew $XX more our million $XXX segment as our we volatile profit the in-process the million. XXXX. and expect to better expectations pandemic. profit ramp-up underlying at Turner net further operating quarter productivity by midpoint. profitability claims over higher EBITDA insurance X.X% outperformance XXXX operating modest $XX in operating rate just On with $XXX sales portfolio producers the In operating and by adverse average lease new million reserve line this is higher-than-expected a our and expense for U.K. rose Management GWS, adjusted profit segment above on purchase marginally exacerbated rose trailing pushing we gains expected. benefited record it capital SPAC our We would around XX.X%, X.X% Excluding deferred in was pandemic-constrained and over of and of basis a $XXX OMSRs, X in noncash aside million over Advisory expectations. investment our level million excluding by impacts. $X QX despite we which rose points of year, period, been that X% a the level. profit reached on adjusted previous a Advisory's to EBITDA Townsend than consideration $XXX profit & was year-end margin million affected through points from expectations, severely tranches. had versus historical net were project believe investments, basis, our XXXX. the Turner
not This to by and initial quarter. fluctuate incentive exceeded do compensation corporate business volatility investments corporate much also as as our normalize. business. overhead higher our performance functions XXXX incentive materially compensation support increased larger help the is continues expectations to expect key in We saw as largely to in driven in We XXXX
benefit on $X.XX includes our and gain This Altus Slide XX, adjusted investments. XX% in VC and of rose investment adjustments Looking SPAC share mark-to-market a per earnings another a from $X.XX from to at $X.XX. Power our
to these $X.XX. noncash core gains, Excluding adjusted XX% rose EPS
triggered Excluding in to reflects in underlying government amortization. OMSR partially $X.XX. is EPS earnings as higher consistent our and only results higher rose loans, we've the deconsolidation of growth These increase net Robust SPAC amortization, quarters, with were expense. elevated reported to which related adjusted gain, offset strong previous EBITDA depreciation by interest how prepayments XX% over well agency-related the which as mainly lower adjusted
expense consideration for effective the in increase also Townsend U.K. adjusted Our interest approximately Turner increase results & related reserve remaining lowered $X.XX. to rate in our payments noncash include an deferred nonrecurring our purchase and business XX.X%. to multifamily development tax by earnings The
give operations both forward, noncore how Going earlier, our we'll you noted adjusted as transparency Kristyn adjusted EPS are and to core performing. core both and investments into report EPS
our Now of record net bringing free to nearly billion of a in is in for primarily cash generated capital, we'll $X.X quarter, with year flow billion, our turn total our cash cash which nearly XX. we of our debt discuss billion almost company. the profitability, during on Slide deploying future flow net the new year, issuance financial position $X.X to of Due free We capacity ended proceeds investments annual while $X.X growth. a X.X the for strong
of we fifth of intend We return deployment around repurchases over shareholders to of also consecutive to shareholders. year, throughout programmatically cash believe in our also continue assuming our commenced our X%. this evolving XXXX. while M&A is providing In and We opportunity continue support million stock, $XXX returning strategy to quarter of there repurchase have we to this, pipeline. QX ample capacity remains capital our invest this repurchases attractive given future and growth in intend repurchased the We a yield
XX. remain executive as and to team their forward, evaluated metric cash XXXX of be senior strong conversion turn goals. us, free flow Additionally, on Please will Slide we part this a move will our as priority for
favorable, is expected and to of investing where Advisory growth rate sales persist to another a Services we across segment and strong tensions, and strong revenue revenue remain and profit for low rate. the tailwinds geopolitical in teen XXXX. of our high are low proactively X to with to leasing notwithstanding rise rise of operating positioned XX% revenue drive year generally at year areas growth. likely dimensions heightened to business a another expect We are at conditions to growth, mid-teens expected Market
incremental industrial expect due recovery available near-term a We that potential modestly benefit gradual to shortage decelerate offices of leasing should properties. and from
and advisory industrial compared earlier, clip basis. double-digit low long-term for strong leasing, high demand are As at on performance to for a we and a class of expect to this expect highlighted XXXX. bolstering long-run we Bob rise secular trends sales believe space single-digit asset revenue to Outside
to expect Advisory versus prior year enterprise also also We advisory's include growth shareholders. team tempered high-margin awards as operating margin transactional revenue flat be designed roughly growth. to be profit expectations operating align some with our and strategy strategic to help leadership broader expense future better accelerate benefit increased the the operating will investments of a by equity
expect We by continued line low accelerated expect facilities strong GWS, In by mid-double-digit normal times. partially growth operating growth strong performance long-run cycle This being by is in these to project management, growth in we to and in enterprise a partially margin contract management high single-digit organic driven organic growth. advisory, mid- driven investments. segment and driven top profit return to
$XX deferred required when include of payments. expect we've will the consideration second continue weighted the to expense noncash last be segment growth purchase for profit expectations of million This of through XXXX made also the We legacy of year. Townsend. the GWS to operating & expense more Turner our impact this half
with legacy X%. deferred record GWS reducing in include profit Like our around will impact equity by of We interest expected about payments. from awards. in segment growth also operating use strategic noncash advisory, expectations operating expense also associated profit is an This $XX increased million
foreign change-driven small historical is Strong operating at We in line reflects mid-teens in generated XXXX. today's approximately revenue over generated from This being a we Townsend around first revenue year exchange Townsend margin $XX XX%, offset million to $XX is of during & in generated $XXX fourth XX.X% development of top certain quarter. with excluding cut million expect recorded it the to in is is recovery a growth, growth calendar match expense & to up Revenue retention and and million Turner growth than at the organic profit line that tick to segment of of its by expected strong the Turner profit the is restoration around headwind for driven accounting COVID XXXX, the in profit average quarter. more rate, net million gain grow grow roughly continued spot about our rate. last operating net business. the noncash projected bonuses. elevated year's $XXX expected X.X% expenses U.K. expected to operating REI
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development Finally, in-process a to line profit will under portfolio at we convert historical operating X%, of our expect in rate with performance.
for current positioned assets. the with life well the is care of and of portfolio in-process comprised multifamily, portfolio environment nearly Our sciences health industrial, XX%
anticipate you expect portfolio see, functions As any be by from decline further than aside we strategic corporate we offset compensation incentive nearly We can scaling favorable assets the strong our with towards of more XXXX. noncore Setting more investments, impact. to are key effects in potential. orienting corporate consciously overhead long-term performance investments X% to
small which the forecast. forward, our investments, of adjusted will our be core strategic of impact Going portfolio of excludes the noncore financial basis earnings,
value than these rather their strategic investments making near-term gains. financial are for We
our sharp traded meet Power. clean in for is Altus largest transition our will in clients poised benefit be publicly while low-carbon their volatility enhancing likely However, capabilities from valuation, there noncore energy to their sustainability especially a goals. to and help to investment the economy Altus investment
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the first example, XX. For price majority noncash reversed February would at as gain in recognized quarter fourth of the the share the of Altus' in be we quarter
depreciation at amortization. and looking Now
rate effective to rate and we in XXXX. our QX this rise to about be with adjusted expect X%, the line in We saw we XX.X% project tax
on estate cushions Real highly which hedge a also are our how We on transactional long-term natural somewhat businesses. our focused provides monitoring inflation impact held basis, a when could business. inflation
could more to inflation capital even draw benefit sales fact, real estate. potentially concerns if In
and the and this, On clients reimburse the management in side, employee in provisions In well our GWS for we businesses, light us typically our base expense of primarily nearly we half of multiyear inflation work embedded positioned property are and believe the benefits are contracts. of who salary GWS prudent in the operating highlight tighter remains given policy succeed also heightened inflation XX to geopolitical while of Please higher our and that turn is current to there environment growth this to a environment, an rising favorable, environment. multiyear for monetary inflationary It is update tensions. uncertainty higher Slide framework.
we've core As and low case from more our raised earnings additional revenue growth segments. the our growth X is upside expectations We envision organic for Bob solid XXXX noted, and across to base XX% next capital years. business annual than double adjusted the both to to to growth for EPS rates deployment. XXXX X period There digits
GWS as for Our increase higher-margin gradually with management over lower-margin itself considerable project also of time larger is this base. should overall improve accounts The GWS to period GWS margin over growth expected our a even margin revenue our segment. from share
will to manage continue We our sheet prudently. balance
into as can We to growth. for increasing to as strategic capital with are net turns M&A opportunity. deploy around accelerate compelling leverage as we a turn highly We X X high even comfortable go
developer deployment our to further capital life see areas our our focus expand opportunity sciences into strategy to operator, investor, diversify infrastructure. on that expect multifamily, business. and favorite secularly We We will model significant
CBRE. balance and plays the strength, us Importantly, further line sheet our model differentiate to business opportunity including this cross-functional giving to advantages, diversification competitive collaboration,
continue figure This double-digit capacity, been Given this annual adjusted while our prominently within the disciplined Slide shareholder while strong capital our plans achieved we bolster diversifying also of XXXX, have to grown over flow over balance revenue taken increasingly average steps has supported capital will capital business. horizon. to returns allocation and growth financial by rates pursuing expect EPS annual and multiyear our program has XX%, strategic core we've Ending with cash Since allocation XX. our this free growth period. at a sizable sheet
metrics. key performance extend of across our financial successful framework We growth track expect our record multiyear the will
with We optimistic for to XXXX line and our are we'll into we look performance. as the strong extremely that, year trajectory about questions. open delivering head of And another operator, forward
