Newmark Group, Inc. (NASDAQ: NMRK) (“Newmark Group”), which operates a leading, global, full-service commercial real estate services business, Newmark (“Newmark”), today announced that it has recently closed the acquisition of MLG Commercial, LLC (“MLG”), a leading commercial real estate company offering both brokerage and property management services in Wisconsin.
Acquiring MLG further strengthens Newmark Group’s position in the Midwest, growing its market share in a key region where there is robust demand for commercial real estate services. Adding MLG enhances Newmark’s offering and expands its ability to serve clients across the firm’s diverse commercial real estate services platform. Newmark Group has a history of growing through strategic acquisitions, having completed 16 since the beginning of 2017.
“We have a proven track record of acquiring companies, seamlessly integrating teams and enabling them to thrive under the Newmark brand. MLG emerged as a perfect fit because the team is similarly growth-minded and focused on excellent client service,” said Barry Gosin, Newmark Group CEO. “Our expansive platform enables our producers to serve clients’ diverse real estate needs. Because of this, acquired companies have been able to increase revenue by an average of 30 percent after becoming part of Newmark. This deal is one of the many steps we have taken to create value and drive momentum through the rest of 2019, along with making strategic hires that expand our geographic presence and enhance our specialized offerings.”
“Newmark has a history of consistent growth and world-class support for brokers that is evident to everyone in our industry,” added John Malloy of MLG. “As we continued to think about expansion and how to give our clients, employees, and our brokerage and property management teams the best resources possible, this was an easy decision.”
Founded in 1987, MLG has established itself as a leading commercial real estate company. MLG specializes in sale, lease, acquisition and property management of industrial, office, retail and multifamily properties and has two offices, located in Madison and Milwaukee. Before the transaction, Barry Chavin, Jack Jacobson, John Malloy, Stephen Provancher, Brian Vanevenhoven, and Bruce Westling were owners of MLG and are among the firm’s top-producing brokers. The team has strong capabilities throughout Wisconsin and a close connection with the Chicago commercial real estate landscape that has reinforced its business development and client service efforts.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt, and structured finance and loan sales. 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. For further information, visit www.ngkf.com.
Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group 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 Group 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 Group’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.