Newmark, a subsidiary of BGC Partners, Inc. (NASDAQ: BGCP) (“BGC Partners,” or “BGC”), a leading global brokerage company servicing the financial and real estate markets, announced that Continental Realty, Ltd., officially changed its name to “Newmark”. Newmark acquired Continental Realty, Ltd., which included the leasing and property management divisions of parent company Continental Real Estate Companies, in 2016 for an undisclosed amount. The acquisition was made to bolster Newmark’s presence in the Midwest and to help drive growth opportunities for the firm’s existing Ohio operations in Cleveland, Cincinnati and Columbus.
Prior to the acquisition, Columbus-based Continental Realty Ltd. was founded in 1975 and grew to be one of the largest commercial operations in Central Ohio. The firm developed a team of real estate professionals with expertise in all aspects of commercial brokerage including office, industrial, retail, land and investment sales.
Jim Clark, former executive vice president of Continental Real Estate Companies, leads the office as executive managing director. He joined Continental Real Estate Companies in 2014. “The acquisition in 2016 was a tremendous opportunity to merge with Newmark’s robust entrepreneurial platform, which ultimately helped build up our resources and further accelerate new business wins,” said Clark. “This name change further solidifies our re-brand and reflects our growing capabilities.”
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark”), is one of the world’s leading commercial real estate advisory firms. Newmark has over 4,600 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, Newmark’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, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.
Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point and Newmark Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our 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. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have 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. For further information, visit www.ngkf.com.
Newmark, which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), 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 “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 “BGCA”.
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 and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.