NEW YORK CITY-BGC Partners Inc. has closed its acquisition of assets of Grubb & Ellis Co. following the recent approval of the transaction by the U.S. Bankruptcy Court for the Southern District of New York. BGC is rapidly integrating Newmark Knight Frank, which it acquired in October 2011, with Grubb & Ellis, forming Newmark Grubb Knight Frank, its new full-service commercial real estate platform.
In addition to the Grubb & Ellis professionals now joining the combined firm, Newmark Knight Frank has added more than 50 brokers in offices across the country in the last several months.
Michael Lehrman, global head of real estate at BGC, says in a prepared statement that “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 adds “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.”
According to 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."
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
