Newmark Knight Frank Acquires Gale GFS

FLORHAM PARK, NJ-Newmark Knight Frank, together with management of the real estate services firm, has acquired a majority controlling interest in Gale Global Facility Services, GlobeSt.com has learned. Locally based, GFS had been functioning as a subsidiary of Mack-Cali Realty Corp. recently, having been added in the REIT’s acquisition of the Gale Co. in 2006. Terms of the deal, including the financial details weren’t disclosed.

The combination of GFS and NKF’s existing facility management group establishes a new division, Newmark Knight Frank Global Management Services (GMS). The combined leasing and management portfolios now add up to more than 100 million sf of office, retail and industrial properties in 49 states and more than 40 countries.

“Over the past years, we have worked to create value and positive operational impact,” says Ian Marlow, president of GFS, who will continue to serve as president and CEO of the new division within NKF. “With out infrastructure and services and the global reach of the NKF service model, collectively we enhance what both groups can offer to our current and future roster of clients,” Marlow tells GlobeSt.com.