Nyc (January 21, 2014) вЂ“ Newmark Grubb Knight Frank (вЂњNGKFвЂќ or вЂњNewmarkвЂќ), among the biggest commercial estate that is real organizations within the U.S., and element of BGC Partners, Inc. (NASDAQ BGCP) (вЂњBGC PartnersвЂќ or вЂњBGCвЂќ), announced today BGCвЂ™s agreement to acquire Cornish & Carey Commercial (вЂњCornish & CareyвЂќ). With approximately $135 million in profits in 2012 and over 275 agents, Cornish & Carey is Northern CaliforniaвЂ™s preeminent full-service commercial real estate business. Economic details regarding the deal are not disclosed. BGC expects the deal is going to be accretive upon closing immediately. The transaction is expected become completed by the middle of 2014.
NGKF CEO Barry M. Gosin said, вЂњOur partnership with Cornish & Carey happens to be tremendously effective. We’ve got an even greater capacity to provide consumers into the important Northern California market the complete array of NGKFвЂ™s services site that is including, leasing advisory, facilities administration, property management, task management, investment sales, international corporate solutions, and valuation amongst others. a main motorist of NGKFвЂ™s growth is acquiring dazzling talent in key areas. Cornish & CareyвЂ™s commitment to serving consumers, as well as its culture and gratification, align completely with NGKFвЂ™s client-centric service and growth model.вЂќ
Cornish & Carey Commercial President and CEO Chuck Seufferlein, one of the most respected figures in CaliforniaвЂ™s commercial realtor industry, has been known as President of NGKFвЂ™s Western Region. Scott Carey, carrying on the family that is firmвЂ™s, remains Chairman and General Counsel.
Mr. Seufferlein said, вЂњCornish & Carey is a trusted title among choice makers in technology, life sciences, finance along with other sectors in Northern California and Silicon Valley. As Newmark Cornish & Carey, our consumers will gain extremely from the exemplary breadth of services that NGKF offers globally.вЂќ
вЂњThis is an time that is exciting our firm, our consumers and our brokers,вЂќ Mr. Seufferlein included. вЂњCornish & Carey originally partnered with NGKF because we recognized the value in joining forces having a firm who has built both a principal ny existence and considerable international reach. Our effective partnership with NGKF, BGCвЂ™s balance that is strong, and BGCвЂ™s and NGKFвЂ™s outstanding relationships with top-tier corporations and financial institutions, are compelling reasons to join together. The resources to take a position and grow, along with the unparalleled expertise and opportunity that exists across NGKF, BGC and its affiliated companies, are unrivaled on the market.вЂќ
Mr. Gosin added, вЂњCoupled with NGKFвЂ™s strong Southern Ca presence, this union solidifies our ability to offer an unequaled scope of services through the entire state and underscores our commitment to supplying exemplary resources towards the commercial housing market shore to coast.вЂќ
Newmark Cornish & Carey offices are found in Emeryville, Hayward, Marin, Palo Alto, Pleasanton, Roseville, Sacramento, san francisco bay area, San Mateo, Santa Clara, Santa Rosa and Walnut Creek. miss travel dating site Its full selection of services includes tenant and landlord representation, investment sales, finance, global corporate services, and home and facilities administration, complementing NGKFвЂ™s outstanding global services business plus the unparalleled capital areas abilities through BGCвЂ™s relationships with Cantor Fitzgerald and Cantor Commercial property (CCRE).
About Newmark Grubb Knight Frank Newmark Grubb Knight Frank is among the worldвЂ™s leading commercial estate that is real organizations. As well as London-based partner Knight Frank and independently-owned workplaces, NGKFвЂ™s 12,000 specialists operate from significantly more than 320 offices in founded and property that is emerging on five continents.
With origins dating back in to 1929, NGKFвЂ™s strong foundation helps it be the most trusted names in commercial real estate. NGKFвЂ™s platform that is full-service BGCвЂ™s property solutions segment, providing commercial real-estate renters, landlords, investors and developers a wide range of services including renting; money areas solutions, including investment sales, debt placement, appraisal, and valuation services; commercial home loan brokerage solutions; along with corporate advisory services, consulting, project and development management, and home and business facilities management services. For further information, check out ngkf .
NGKF is just a part of BGC Partners, Inc. (NASDAQ BGCP), a leading worldwide brokerage business mainly servicing the wholesale economic and real estate markets. For further information, see bgcpartners .
Discussion of Forward-L king Statements by BGC Partners Statements in this document BGC that is regarding partners business that are not historical truth is вЂњforward-l king statementsвЂќ that involve risks and uncertainties. Except as needed by law, BGC undertakes no responsibility to release any revisions to virtually any statements that are forward-l king. For the conversation of extra risks and uncertainties, which may cause real results to vary from those contained in the forward-l king statements, see BGCвЂ™s Securities and Exchange Commission filings, including, although not limited to, the risk factors established within our general public filings, including our many recent Form 10-K and any updates to such risk factors contained in subsequent kind 10-Q or Form 8-K filings. These risks include those regarding the Cornish & Carey transaction, which is at the mercy of certain closing that is customary, doesn’t shut in a timely manner or at all.