Khing Shan's questions to Colliers International Group Inc (CIGI) leadership • Q2 2024
Question
Jimmy Shan of RBC Capital Markets, also known as Khing Shan, questioned the sustainability of the strong 13% leasing revenue growth and asked about the growth rate and current scale of the loan origination business.
Answer
CEO of Real Estate Services Christopher McLernon stated that leasing growth should continue at a strong pace, while CFO Christian Mayer suggested the 8% year-to-date growth is a good full-year estimate. Chairman and CEO Jay Hennick highlighted leasing's resilience. Mayer noted that the loan origination business, while still small at over $100 million in revenue, saw growth nearly double year-over-year, though profitability per loan is currently lower due to a mix shift away from GSE originations.