NEW YORK, Jan. 15, 2020 /PRNewswire/ -- Newmark Group,
Inc. (NASDAQ: NMRK) ("Newmark or the "Company"), which operates a
leading full-service commercial real estate services business,
Newmark Knight Frank ("NKF"), today announced it has acquired the
assets of HVS, Inc., which operates under the name Hopkins
Appraisal Services ("Hopkins"), a national leader in the valuation
of restaurants and retail petroleum facilities.
This acquisition, led by NKF Valuation & Advisory
("V&A") President John Busi, is
expected to further expand NKF's three-year-old V&A practice
into a leading valuation service provider in the Americas. Hopkins,
headquartered in Overland Park,
Kansas, with a professional workforce of nearly 40
employees, has been a dedicated multi-unit retail specialist for
approximately 45 years. The firm has valued more than 100,000 gas
stations and restaurants in the United
States and Canada.
Hopkins is the latest addition to NKF's burgeoning V&A
practice. Through a combination of hiring and acquisitions, V&A
has increased its headcount by over 500 in the past three years to
more than 525 employees.
"The acquisition rounds out our suite of highly specialized
verticals, positioning NKF Valuation & Advisory as a preeminent
asset class specialist. Hopkins is a recognized leader in
restaurant and retail petroleum valuation space. We are thrilled to
add them to the V&A specialty practice lines we've created
under the formidable leaders we've brought to NKF," said Busi. "As
our company continues to transform to a data-driven, expert-based,
professional services firm, we were also attracted to the deep
retail database that Hopkins brings to NKF."
Hopkins Appraisal Services was founded by Chairman David E. Hopkins, who pioneered many of the
valuation techniques now employed by some of the industry's
savviest participants. Hopkins President David Hatutian and COO Brock Rule will lead the new specialty vertical
for NKF V&A. The new Restaurant/Retail Petroleum Specialty
Practice will combine both business and real estate expertise to
perform valuations of tangible and intangible multi-unit retail
assets.
Hatutian said, "NKF's vision is exemplified by its strong
line-up of specialized valuation practices, and we are happy to be
part of that offering. Our specialty focus has enabled us to build
a market-leading database and methodology in the retail petroleum
and restaurant sectors."
Rule added, "Our data and experience combined with NKF's
coverage and platform is a win-win for clients."
About Hopkins Appraisal Services
Hopkins Appraisal
Services ("Hopkins") is a leader in multi-unit retail valuation,
specializing in the appraisal of restaurants and retail petroleum
facilities (convenience stores, service stations, truck stops, car
washes, etc.), experienced with all elements of value – real
estate, equipment and intangible business. Hopkins has more than 45
years of experience and offers complete national coverage from
multiple offices. Hopkins' clients include real estate and
enterprise lenders, as well as franchisees and operators. Hopkins
has appraised over 100,000 convenience stores and restaurants,
including large portfolio assignments.
About Newmark Group, Inc.
Newmark Group, Inc. ("Newmark Group") is a publicly traded company
that, through subsidiaries, operates as a full-service commercial
real estate services business with a complete suite of services and
products for both owners and occupiers across the entire commercial
real estate industry. Under the Newmark Knight Frank name, the
investor/owner services and products of Newmark Group's
subsidiaries include capital markets (comprised of investment sales
and mortgage brokerage), agency leasing, property management,
valuation and advisory, diligence and underwriting. Newmark Group's
subsidiaries also offer government sponsored enterprise lending,
loan servicing, debt and structured finance, and loan sales.
Newmark Group's occupier services and products include tenant
representation, global corporate services, real estate management
technology systems, workplace and occupancy strategy, consulting,
project management, lease administration and facilities management.
Newmark Group enhances these services and products through
innovative real estate technology solutions and data analytics
designed to enable its clients to increase their efficiency and
profits by optimizing their real estate portfolio.
Newmark Group has relationships with many of the world's largest
commercial property owners, real estate developers and investors,
as well as Fortune 500 and Forbes Global 2000 companies. Newmark
Group's Class A common stock trades on the NASDAQ Global Select
Market under the ticker symbol "NMRK". Newmark is a
trademark/service mark and/or registered trademark/service mark of
Newmark Group and/or its affiliates. Knight Frank is a service mark
of Knight Frank (Nominees) Limited. Find out more about Newmark at
http://www.ngkf.com/, https://twitter.com/newmarkkf,
https://www.linkedin.com/company/newmark-knight-frank/, and/or
http://ir.ngkf.com/investors/investors-home/default.aspx.
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. 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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/newmark-group-inc-acquires-hopkins-appraisal-services-adds-restaurant-and-retail-petroleum-specialty-asset-classes-to-valuation-and-advisory-practice-300987672.html
SOURCE Newmark Group, Inc.