NEW
YORK and DALLAS,
May 3,
2022 /PRNewswire/ -- Newmark Group, Inc. (NASDAQ:
NMRK) ("Newmark") announces the acquisition of industry-leading
North American retail real estate advisory firms Open Realty
Advisors and Open Realty Properties ("Open Realty"). Open
Realty will join Newmark's Retail Services business line with an
extensive national and global top-tier client roster, and its
founders will assume significant leadership roles to expand
Newmark's global retail footprint.
Acquiring Open Realty, an authority on
brand-building in retail real estate, is Newmark's next move to
being the most knowledgeable, well-connected retail advisory firm
in the U.S. and beyond.
"This acquisition underscores Newmark's commitment to
brick-and-mortar retail—a foundational and enduring component of
the global commercial real estate landscape. Providing top-level
services to retail clients is more important than ever as the
sector plays a critical role in revitalizing the economy," said
Newmark Chief Executive Officer Barry
Gosin. "Acquiring Open Realty, an authority on
brand-building in retail real estate, is Newmark's next move to
being the most knowledgeable, well-connected retail advisory firm
in the U.S. and beyond."
Open Realty is led by Mark Masinter, who heads the firm's
macro strategy and business development, Johnny Siegel, who spearheads tenant advisory
services and asset management strategies for clients, and
Steve Merkle, who co-leads tenant
advisory business endeavors. Masinter and Siegel join Newmark as
Chairman of Global Retail and President of Global Retail,
respectively; Merkle joins as Vice Chairman.
"With over 35 years of experience growing brands, executing
roll-out strategies, and developing and investing in real estate,
both domestic and international, we are honored to have garnered
the trust and respect of the very best retail clients and
institutional investors in the world at Open Realty," stated
Masinter. "Integrating with the Newmark platform—building on the
company's vision and articulating that vision to the retail,
restaurant, entertainment and real estate communities—is an
exciting, standard-setting venture. We couldn't be more bullish on
the future of retail."
"Open Realty's and Newmark's client-service standards are in
perfect alignment, prioritizing thoughtful and deliberate tenant
advisory and a holistic approach to real estate. We see assignments
through the lens of each stakeholder, having worked in every aspect
of the real estate process; and the same can be said of Newmark's
breadth and depth of retail services. We look forward to leveraging
the infrastructure, technology and collaborative opportunities of
an expanded platform," said Siegel.
Open Realty specializes in tenant strategic planning, site
identification, lease negotiation, project administration,
construction and design facilitation, portfolio maintenance and
site disposition, as well as project-specific expertise in
acquisition consultation, project design and site development,
merchandising, project leasing and asset management, and overall
market and financial analysis.
The Open Realty acquisition—which closed May 2, 2022—is part of Newmark's larger expansion
strategy, scaling up its service offerings in key markets,
nationally and globally. Newmark's recent announcements
include acquisitions, hires and agreements across key global
markets, including France,
Germany, Poland, Hungary, Hong
Kong, Dubai and
London, with the recent
acquisition of real estate advisory firm BH2, and in the U.S.,
where the firm acquired Boston-based McCall & Almy. In the retail
space, Newmark's acquisitions include London-based Harper
Dennis Hobbs ("HDH"), New
York-based RKF and ExcessSpace, in 2019, 2018 and 2015,
respectively.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries
("Newmark"), is a world leader in commercial real estate,
seamlessly powering every phase of the property life cycle.
Newmark's comprehensive suite of services and products is uniquely
tailored to each client, from owners to occupiers, investors to
founders, and startups to blue-chip companies. Combining the
platform's global reach with market intelligence in both
established and emerging property markets, Newmark provides
superior service to clients across the industry
spectrum. Newmark generated revenues of nearly $3.1 billion for the twelve months ending
March 31, 2022. Newmark's company-owned offices, together with
its business partners, operate from approximately 170 offices with
over 6,300 professionals around the world. To learn more,
visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements about
Newmark
Statements in this document regarding Newmark 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. These
include statements about the effects of the COVID-19 pandemic on
the Company's business, results, financial position, liquidity and
outlook, which may constitute forward-looking statements and are
subject to the risk that the actual impact may differ, possibly
materially, from what is currently expected. Except as required by
law, Newmark undertakes 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's Securities and
Exchange Commission filings, including, but not limited to, the
risk factors and Special Note on Forward-Looking Information set
forth in these filings and any updates to such risk factors and
Special Note on Forward-Looking Information contained in subsequent
reports on Form 10-K, Form 10-Q or Form 8-K.
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SOURCE Newmark Group, Inc.