NEW YORK CITY—The synergy between multifamily capital solutions provider Berkeley Point Financial and Newmark Knight Frank's multifamily investment sales platform, ARA Newmark, became obvious “from the moment we bought ARA in 2014,” NKF CEO Barry Gosin tells GlobeSt.com. Since that acquisition, which occurred several months after Cantor Fitzgerald LP acquired Berkeley Point, “there was an enormous amount of referral, partnership and collaboration” between the two organizations, such as a $200-million-plus refinance that Berkeley Point and ARA Newmark closed on behalf of Steadfast Cos. in June 2016.
Now, with the $875-million acquisition of Berkeley Point by BGC Partners, the parent company of NKF, the two operations will be under one roof. Berkeley Point will become part of NKF when the deal closes later this year.
“Our goal is to be a one-stop solution for all aspects of commercial real estate,” says Gosin. “The Berkeley Point addition will increase the scale and scope of NKF, and it will increase the scale and scope of Berkeley Point.”
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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.
