NEW YORK, Sept. 6, 2018 /PRNewswire/ -- Newmark Group,
Inc. (NASDAQ: NMRK) ("Newmark Group" or "the Company"), which,
through subsidiaries, operates a leading full-service commercial
real estate services business, announced today that it has closed
on the acquisition of RKF Retail Holdings, LLC and its subsidiaries
("RKF"). RKF is a leading independent real estate firm in
North America specializing in
retail leasing, investment sales and consulting services. RKF
serves a broad spectrum of domestic and global clients in services
ranging from national tenant and owner representation to advisory,
consulting and dispositions.
The acquisition of RKF bolsters Newmark Group's national retail
business which includes retail leasing, retail investment sales,
project development, retail occupier services and Excess Space
Retail Services, Inc., a Newmark Group company specializing in real
estate disposition and lease restructuring.
Robert K. Futterman will serve as
chairman of Newmark RKF, Newmark Group's retail leasing division,
and will be responsible for leading the growth of the Company's
retail real estate business throughout North America. Alongside Mr. Futterman, among
the many RKF brokers joining Newmark Group are Vice Chairmen
Karen Bellantoni, Robert Cohen, Jeremy
Ezra, Barry Fishbach,
Jeff Fishman and Ariel Schuster along with the firm's management
and support teams.
"The closing of the acquisition of RKF is a prominent milestone
for our business in creating an industry-leading national retail
services firm," said Newmark Group Chief Executive Officer
Barry M. Gosin. "Robert and his team
bring a tremendous depth of talent and over two decades of
expertise to the dynamic global retail environment. Over time, we
expect our newly combined retail platform to produce strong results
under Robert's leadership."
"Today's achievement brings us one step closer to creating a
platform that will reshape and significantly impact the retail
industry," said Mr. Futterman. "Today's retail market is a dynamic
environment. Our collective and unique understanding of demand-side
trends, customer demographics, the food and beverage industry,
experiential innovations in retail, as well as the implications of
new accounting rules for our clients will give Newmark RKF an even
stronger national platform while providing clients with
comprehensive, turn-key services.
"I look forward to leading the Newmark RKF team and leveraging
our resources to help clients capitalize on the tremendous
opportunities that exist in today's retail real estate
marketplace."
Newmark Group's existing retail business is led by recognizable
teams in major markets such as New
York, Boston, Chicago, Los
Angeles and San Francisco.
In total, RKF will add approximately 70 brokers to Newmark
Group. The Company expects the acquisition to be accretive to
earnings per share within the first full year.
About Newmark Knight
Frank
Newmark Knight Frank ("NKF"),
operated by Newmark Group, Inc. ("Newmark Group") (NASDAQ: NMRK),
is one of the world's leading and most trusted commercial real
estate advisory firms, offering a complete suite of services and
products for both owners and occupiers. Together with London-based partner Knight Frank and
independently-owned offices, NKF's 16,000 professionals operate
from approximately 430 offices on six continents. NKF's
investor/owner services and products include investment sales,
agency leasing, property management, valuation and advisory,
diligence, underwriting, government-sponsored enterprise lending,
loan servicing, debt and structured finance and loan sales.
Occupier services and products include tenant representation, real
estate management technology systems, workplace and occupancy
strategy, global corporate services consulting, project management,
lease administration and facilities management. For further
information, visit www.ngkf.com. Newmark Group is a publicly
traded subsidiary of BGC Partners, Inc. ("BGC") (NASDAQ:
BGCP), a leading global brokerage company servicing the financial
and real estate markets.
Discussion of Forward-Looking Statements about Newmark Group
and BGC
Statements in this document regarding Newmark Group and BGC that
are not historical facts are "forward-looking statements" that
involve risks and uncertainties, which could cause actual results
to differ from those contained in the forward-looking statements.
Except as required by law, Newmark Group and BGC undertake no
obligation to update any forward-looking statements. For a
discussion of additional risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements, see Newmark Group's and BGC's
Securities and Exchange Commission filings, including, but not
limited to, the risk factors set forth in these filings and any
updates to such risk factors contained in subsequent Forms 10-K,
Forms 10-Q or Forms 8-K.
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