4:05 PM
Newmark Group, Inc. (NASDAQ: NMRK) (“Newmark” or “the Company”), a leading full-service commercial real estate advisory firm, announced today that it has agreed to acquire RKF Retail Holdings, LLC and subsidiaries which make up the RKF brand (“RKF”). A leading independent real estate firm in North America specializing in retail leasing, investment sales and consulting services, RKF serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and dispositions. Newmark’s acquisition of RKF is expected to close before the end of the year and will build upon Newmark’s already robust national retail business which includes retail leasing, retail investment sales, project development retail leasing, retail occupier services and Excess Space Retail Services, Inc., a Newmark company specializing in real estate disposition and lease restructuring.
Since its founding 20 years ago, RKF has grown into an industry-defining business headquartered in New York, with additional offices in Chicago, Las Vegas, Los Angeles, Miami, Northern New Jersey, San Francisco, Toronto and Tokyo. Robert K. Futterman will serve as Chairman of Newmark RKF, Newmark’s retail leasing division, and will be responsible for leading the growth of the Company’s retail real estate business throughout North America.
“RKF has been consistently ranked as the top retail brokerage company in New York and has demonstrated national and global expertise,” said Barry M. Gosin, Chief Executive Officer of Newmark. “This acquisition is consistent with Newmark’s goal to add top talent in all disciplines and is an important step in continuing to build the leading retail platform in both leasing as well as retail investment sales. Robert Futterman has attracted some of the best talent in the industry and combined with Newmark’s growing retail business, we aim to create the top ranked retail company nationally.”
“For the last two decades we have attained our leadership position in the retail real estate industry by investing in our people and building a strong brand and culture,” said Robert K. Futterman, Chairman & CEO of RKF. “We have had many choices in partners over the years but having known both Howard Lutnick and Barry Gosin for many decades, this partnership feels like family. We are thrilled to expand the RKF brand to grow Newmark’s retail platform nationally.”
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. The investor/owner services and products of Newmark Group’s subsidiaries include capital markets (including investment sales), agency leasing, property management, valuation and advisory, diligence and underwriting. Under the Newmark and Berkeley Point Capital names, the company’s subsidiaries also offergovernment 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. NewmarkGroup, 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”. Newmark and Berkeley Point are trademarks/service marks and/or registered trademarks/service marks of Newmark Group, Inc. and/or its affiliates. Knight Frank is a service mark of Knight Frank (Nominees) Limited. Find out more about Newmark at https://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 and BGC Partners
Statements in this document regarding Newmark and BGC 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 and BGC 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 Newmark’s and BGC’s Securities and Exchange Commission filings, including, but not limited to, the risk factors set forth in these filings and any updates to such risk factors contained in subsequent Forms 10-K, Forms 10-Q or Forms 8-K.
About RKF
RKF is a leading independent real estate firm in North America specializing in retail leasing, investment sales and consulting services, RKF serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and dispositions. With approximately $40 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Chicago, Las Vegas, Los Angeles, Miami, Northern New Jersey, San Francisco, Tokyo and Toronto. RKF operates in Canada as RKF Group Canada Realty, a retail brokerage. For more information, please visit www.rkf.com.