The skyline of Mexico City, world's 12th largest metro area.
MEXICO CITY—Newmark Grubb Knight Frank said Tuesday it had acquired Newmark Grubb Mexico City, with which it has had a local presence since 2013. The acquisition of the firm founded in 1997 as Alles Group Meixco City by Giovanni D'Agostino represent another milestone in NGKF's commitment to growing its footprint in the region. Deal terms were not disclosed.
D'Agostino will continue to lead Newmark Grubb Mexico City and will serve as regional managing director of the Latin American region. “NGKF's global resources and platform broadens our capabilities to offer a wide spectrum of services,” he says. “Now, more than ever before, we are able to exceed the expectations of clients' increasingly sophisticated real estate needs.”
Barry Gosin, CEO of New York City-based NGKF, notes that Newmark Grubb Mexico City “has built a strong reputation as one of the most well-respected commercial real estate operators in the region. Mexico is poised for substantial commercial real estate growth in the coming years. We are thrilled to take a direct role in the growth of this region in recognition of the increasing demand by US clients.”
Mexico City represents the world's 12th largest metropolitan area by population. Many multinational corporations see the region as a hub for their operations. Mexico's largest city represents a significant portion of the volume of capital funding for commercial real estate development throughout Latin America and the construction pipeline there is at an all-time high.
“Newmark Grubb Mexico City
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
