8:00 AM
Newmark Grubb Knight Frank (NGKF), a division of BGC Partners, Inc. (NASDAQ: BGCP) (“BGC Partners,” or “BGC”), a leading global brokerage company servicing the financial and real estate markets, today announced that it has completed its acquisition of Cincinnati Commercial Real Estate, Inc. (“CCR”). CCR has a deep track record in office, industrial and retail leasing and investment sales, representing a diversified client base that ranges from top Fortune 500 companies and institutions to privately owned firms. The acquisition bolsters NGKF’s presence in the Midwest and will help drive growth opportunities for the firm’s existing Ohio operations in Cleveland and Columbus. Financial details of the transaction were not disclosed.
“Aligning with best-in-class local experts throughout the United States who share our philosophy to develop complete solutions for clients in all facets of real estate is fundamental to our growth strategy,” commented Barry Gosin, chief executive officer of NGKF. “The Cincinnati metropolitan area is a fast-growing Midwest economy with an important customer base. By combining our platform with their local expertise and strong reputation, NGKF is well-positioned to thrive in this market.”
“The opportunity for NGKF to expand our presence in the Midwest as our clients demand service regionally makes the acquisition of CCR a natural fit,” noted Michael Sheinkop, president of brokerage services at NGKF. “The addition of a full-service team in Cincinnati that operates with high integrity and civic-mindedness is timely and ideal.”
Wayne Hach, Si Pitstick and Doug Altemuehle, all industry veterans each with over 25 years of experience, join NGKF as executive managing directors along with nine other brokers employed by CCR. They will continue to run their local operation, now backed by the global resources and full-service expertise of NGKF.
“The NGKF global platform aligns exceptionally well with our clients’ interests and provides tremendous depth in services and resources that deliver measurable results,” stated Altemuehle. “As a leader in our market, CCR’s clients have come to place tremendous value on our people, our culture and our principles. We are very excited to join a like-minded organization in NGKF and our clients share the same enthusiasm.”
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., 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 (NASDAQ: 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 (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.
About BGC Partners, Inc.
BGC Partners is a leading global brokerage company servicing the financial and real estate markets. Financial Services offerings include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures, and structured products. BGC provides a wide range of services, including trade execution, broker-dealer services, clearing, trade compression, post trade, information, and other services to a broad range of financial and non-financial institutions. Through its FENICS, BGC Trader, and BGC Market Data brands, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets.
Real Estate Services are offered through the Company’s Newmark Grubb Knight Frank brand, which provides a wide range of commercial real estate services, including leasing and corporate advisory, investment sales and financial services, consulting, project and development management, and property and facilities management.
BGC’s customers include many of the world’s largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, property owners, real estate developers, and investment firms. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: 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 (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.
BGC, BGC Trader, FENICS, FENICS.COM, Newmark, Grubb & Ellis, and Grubb are trademarks, registered trademarks and/or service marks of BGC Partners, Inc. and/or its affiliates. Knight Frank is a service mark of Knight Frank (Nominees) Limited.
Discussion of Forward-Looking Statements by BGC Partners
Statements in this document regarding BGC Partners’ business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. Except as required by law, BGC undertakes no obligation to release any revisions to 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 BGC’s Securities and Exchange Commission filings, including, but not limited to, the risk factors set forth in our public filings, including our most recent Form 10-K and any updates to such risk factors contained in subsequent Form 10-Q or Form 8-K filings.