Newmark Group announced that it has received approval from the US Bankruptcy Court for the District of Delaware to acquire flexible workspace platform Knotel.
Newmark expects the transaction, an asset sale under Section 363 of the US Bankruptcy Code, to close soon.
"Flexible workspace has been one of the fastest-growing areas of commercial real estate, and we expect this adaptive model will play an important role in the future of our industry," said Newmark Chief Executive Officer Barry Gosin in a prepared statement. "As a global commercial real estate leader, Newmark believes that our nimble integrated platform, combined with Knotel's capabilities, will provide superior management and consulting services to corporations and owners around the world."
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
