Avison Young is once again rolling out a recapitalization plan with creditors that the brokerage says positions it for the next phase of growth. 

The Toronto-based brokerage, which started the year by having its junk credit rating withdrawn, said it was building on a 2024 recapitalization plan that had stabilized the company to reshuffle its debt stack while preserving company value. The deal includes significant debt reductions and new equity ownership positions from key financial partners, Avison Young disclosed in a release Tuesday.

The key highlights of the deal, according to the brokerage, are that it takes the firm’s debt to less than three times its earnings before interest, taxes, depreciation and amortization; cuts debt and preferred equity by nearly 70% to historic lows for the company; gives a common equity ownership position to key financial partners; and preserves the value of common shares for Avison Young’s principals. 

The recapitalization includes a capital infusion and a new credit facility earmarked for M&A, a spokesperson for Avison Young said in an email. Existing financial stakeholders who are “traditional Wall Street names” are part of the deal, the spokesperson said. 

“With a strengthened balance sheet and enhanced liquidity, we now have the financial muscle to accelerate our growth strategy while maintaining our unwavering commitment to client services,” CEO Mark Rose said in a statement. 

Avison Young has more than 100 offices and more than 4,000 employees worldwide. It describes itself as led and owned by its principals.

“For the last 15 years, Principals have had a sizable interest in the company — that has not changed,” the spokesperson said.

The brokerage and commercial real estate services firm first faced a credit crunch in 2024, when it defaulted on a $325M senior term loan by missing principal and interest payments across two quarters. 

S&P Global downgraded Avison Young’s debt to reflect the defaults on Feb. 22, 2024. Within days, the firm announced a deal with creditors set to close within a month to cut its corporate debt load by as much as half.

Avison Young declined to give detailed insight into the restructuring, but Rose said at the time that it was cutting its interest rates and its debt load in exchange for “a miniscule” amount of equity. 

“The next report you should be hearing from us is what we're investing in, who we're hiring and who we're buying,” Rose told Bisnow on Feb. 24, 2024.

But its debt issues haven’t disappeared. The brokerage persuaded a UK judge to unfreeze its accounts in July so that it could fulfill a judgment to pay roughly $10.4M in back taxes.

Avison Young had a CCC rating and a negative outlook from S&P Ratings in April 2025. Avison Young requested the agency withdraw its junk rating in January.