BGC Partners today (Monday) announced the formation of Newmark Grubb Knight Frank, its new full-service commercial real estate platform.
The move comes following the closing of BGC’s acquisition of assets of Grubb & Ellis, following the recent approval of the transaction by the U.S. Bankruptcy Court for the Southern District of New York.
BGC is integrating Newmark Knight Frank, one of the largest commercial real estate firms in the U.S. which it acquired in October 2011, with Grubb & Ellis.
In addition to the Grubb & Ellis professionals now joining the combined firm, Newmark Knight Frank has added over 50 brokers in offices across the country in the last several months.
Michael Lehrman, Global Head of Real Estate at BGC, said, “With more than 100 offices in North America, 250 million square feet in property and facilities management, and an outstanding national appraisal business, the creation of Newmark Grubb Knight Frank is a game-changing moment in the real estate industry.
“Newmark Knight Frank and Grubb & Ellis each have consistently ranked among the leading companies in the real estate industry, and now these two great brands have come together as an even more impressive competitive presence in the real estate marketplace.”
Barry Gosin, CEO of the combined Newmark Grubb Knight Frank, commented, “Our value proposition embraces a portfolio of management services, capital markets, corporate services, investment sales, leasing, tenant and landlord representation, property and facilities management, industrial engineering, appraisal and valuation services.
“In short, it’s a fresh and comprehensive way of identifying creative, fully integrated solutions to meet clients’ complex real estate objectives by applying BGC’s capital, management, and technology as we enlarge the scale of our real estate services platform and expand into new markets.”
Lehrman added, “Our integrated real estate business brings together an extraordinary team of best-in-class brokers, property management, facilities management and appraisal executives and their staff. This transaction is a testament to the dedication and shared client focus of literally hundreds of individuals at BGC, Newmark Knight Frank, Grubb & Ellis and their respective affiliates.
Jimmy Kuhn, president of the combined Newmark Grubb Knight Frank, said, “With our teams working together, we have already won significant new mandates. Clients are telling us that with the proven strengths of Newmark Knight Frank, Grubb & Ellis’s investment sales capabilities and expertise across multiple practice groups, and BGC’s expertise in global capital markets, Newmark Grubb Knight Frank represents one of the most powerful solutions in the real estate industry.”