NEW YORK, Sept. 7, 2017 /PRNewswire/ -- Newmark Knight
Frank (NKF) is pleased to announce that it is continuing the
construction of its Valuation & Advisory practice, with an
agreement to acquire the assets of six Integra Realty Resources
offices, including New
York/New Jersey,
Philadelphia, Wilmington, Baltimore, Washington DC, and Atlanta. The acquisitions were led by NKF
Chief Executive Officer, Barry Gosin
and Valuation & Advisory President, John Busi.
The acquisition of the IRR offices will augment NKF's Valuation
& Advisory practice group, which has grown significantly in the
past year. The group will to continue to offer invaluable expertise
and equip its clients for continued success. The addition of these
offices will provide a greater range of geographic coverage as well
as talent that has the background and specialization to further
establish the Valuation & Advisory practice group in the
broader market.
"The professionals that will now become part of the NKF
platform were founding partners in the IRR franchise," said Busi.
"Their names have long been associated with that known brand. After
spending our careers as competitors, we now have the opportunity to
work side-by-side to build a business that combines all the best
elements of the organizations we came from.
Each new IRR office brings outstanding leadership:
- IRR Atlanta, which has serviced Georgia and the Southeast since 1999, is led
by Sherry L. Watkins and
Carl Schultz Jr.;
- IRR Baltimore, which also covers the eastern shore of
Maryland, originated 27 years ago
as Patrick C. Kerr Appraisal Group and later became Kerr Realty
Advisors, and is led by G. Edward
Kerr;
- IRR New York and New Jersey
has served the Tri-State Area for the past 18 years and is run by
co-leaders Raymond T. Cirz and
Matthew S. Krauser;
- IRR Philadelphia, previously Joseph
Dennis Pasquarella & Co. (a boutique real estate
valuation firm specializing in income-producing properties
nationally since 1980), has covered Southern New Jersey, Central Pennsylvania and the Lehigh Valley for the past 18 years, and is
led by Joseph D. Pasquarella,
Michael Silverman, and John P. Pasquarella;
- IRR Washington D.C., which began 27 years ago as Patrick C.
Kerr Appraisal Group, covers the D.C. Metropolitan Area and
Virginia; and
- IRR Wilmington, Delaware, the
only national real estate valuation and advisory firm in the state,
was founded in 2005 as a spin-off from IRR Philadelphia, and is led
by Douglas L. Nickel and
Joseph D. Pasquarella.
Mr. Gosin commented on today's announcement, "As we strive to
build the most complete commercial real estate offering possible,
Valuation & Advisory will continue to be a critical focus. The
additional resources and expertise provided by the IRR offices will
better enable us to deliver top-notch consulting, analysis and
resources and afford our clients the best possible financial
outcomes. We look forward to supporting a Valuation & Advisory
business that utilizes all of the specializations that come to us
as a result of this agreement."
About Newmark Knight
Frank
Newmark Knight Frank (NKF) is one of
the world's leading commercial real estate advisory firms. Together
with London-based partner Knight
Frank and independently-owned offices, NKF's 15,000 professionals
operate from more than 400 offices in established and emerging
property markets on six continents.
With roots dating back to 1929, NKF's strong foundation makes it
one of the most trusted names in commercial real estate. NKF's
full-service platform comprises BGC's real estate services segment,
offering commercial real estate tenants, landlords, investors and
developers a wide range of services including leasing; capital
markets services, including investment sales, debt placement,
appraisal, and valuation services; commercial mortgage brokerage
services; as well as corporate advisory services, consulting,
project and development management, and property and corporate
facilities management services. For further information, visit
www.ngkf.com.
NKF is a part of BGC Partners, Inc., a leading global brokerage
company servicing the financial and real estate markets. BGC's
common stock trades on the NASDAQ Global Select Market under the
ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond
issuance of Senior Notes due June 15,
2042, which trade on the New York Stock Exchange under the
symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief
Executive Officer Howard W. Lutnick. For more information, please
visit www.bgcpartners.com.
Discussion of Forward-Looking Statements about BGC Partners
and NKF
Statements in this document regarding BGC and NKF
that are not historical facts are "forward-looking statements" that
involve risks and uncertainties. Except as required by law, BGC and
NKF 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 BGC's Securities and Exchange
Commission filings, including, but not limited to, the risk factors
set forth in the most recent Form 10-K and any updates to such risk
factors contained in subsequent Forms 10-Q or Forms 8-K.
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SOURCE BGC Partners, Inc.