Newmark Knight Frank (NKF) announced an agreement to acquire the assets of six Integra Realty Resources offices, including New York/New Jersey, Philadelphia, Wilmington, Baltimore, Washington D.C., and Atlanta.
The acquisitions were led by NKF chief executive officer Barry Gosin and Valuation & Advisory President John Busi and part of the company’s ground-up construction of its Valuation & Advisory.
The acquisition follows Newmark’s acquisition of Berkeley Point Financial, has several key hires in its Capital Markets business segment.
“This deal is the centerpiece of a carefully developed strategy,” said Busi. “The professionals that will now become part of the NKF platform were founding partners in the IRR franchise, and their names have long been associated with that known brand. After spending our careers as competitors, we now have the opportunity to work side-by-side to build a business that combines all the best elements of the organizations we came from.
“With our eastern flank almost fully in place, together with the great hires we’ve made in Texas, the Midwest and the West, our foundation is well on its way to its complete realization. In the next quarter, we will bring online the balance of the other market and specialty practice leaders.”
IRR New York and New Jersey has served the Tri-State Area for the past 18 years and is run by co-leaders Raymond T. Cirz and Matthew S. Krauser.
Gosin commented , “As we strive to build the most complete commercial real estate offering possible, Valuation & Advisory will continue to be a critical focus. The additional resources and expertise provided by the IRR offices will better enable us to deliver top-notch consulting, analysis and resources and afford our clients the best possible financial outcomes. We look forward to supporting a Valuation & Advisory business that utilizes all of the specializations that come to us as a result of this agreement.”