VIDEO: Cost Cutting at Avison Young Is Thing of Past With New Funding, CEO Mark Rose Says

Job cuts and other belt-tightening measures are a thing of the past now that Avison Young has completed a refinancing that's left it with funds to expand, CEO Mark Rose said in an interview with CoStar News at the Mipim conference in Cannes, France.

"The key thing here is that by acknowledging and starting early on this, we’re done," Rose said. "There are no more reductions in force. There’s no cost cutting. That’s done."

On Monday, Avison Young said it had finalized a refinancing transaction that "reinforces the company’s financial foundation by reducing its financial obligations by more than half and securing additional capital to advance its strategic goals."

Avison Young is armed with its additional capital at a time when incremental improvement has begun in the commercial property market, Rose said.

"Everybody’s worried about the sky falling. The sky fell," he said. "At this point, it’s what are your strategic plans to take it from here to recovery?"

Check out the video above to hear Rose's thoughts on Avison's competitive advantage, his plans for building teams and the carbon-conscious way his team arrived at the show.