Newmark Group, Inc. (NASDAQ: NMRK), a leading full-service commercial real estate services business that operates as Newmark (“Newmark”), announced another milestone in the development of its Valuation & Advisory (V&A) practice, with the acquisition of the Integra Realty Resources (IRR) offices in Denver and Pasadena. Newmark previously acquired eight IRR offices. The acquisitions were led by Barry Gosin, Newmark’s Chief Executive Officer, and John Busi, President of V&A.
Brad Weiman, joins Newmark as a senior managing director and as the Market Leader - Rocky Mountain States, which includes, Colorado, Idaho, Montana, Wyoming and Utah. Previously, Mr. Weiman was a senior managing director and Majority Partner of the IRR Denver and Pasadena offices. His experience includes investment analyses and valuations of regional malls and shopping centers, health clubs, office buildings, multihousing, industrial facilities, and commercial tracts.
“Newmark’s V&A practice has been laser focused to expand our business partnerships, fulfill strategic initiatives, and cultivate client relationships,” said Mr. Busi. “We’re excited about the acquisition of the Denver and Pasadena offices as they complement our U.S. geographic presence. The addition of these offices is an important step in achieving our long-term goals and vision for V&A.”
“We welcome the addition of Brad Weiman and the team to Newmark Denver and the further expansion of the region’s diverse client services capabilities,” commented Newmark Executive Vice President and Regional Managing Director Kevin McCabe. “Expansion of V&A services is a critical component of our full-service platform and part of our commitment to provide comprehensive services to match our clients’ expanding real estate requirements locally, nationally and internationally. Newmark Denver, in particular, will gain competitive advantage from these new colleagues, and our clients will gain from their valuation and advisory expertise and industry relationships.”
Mr. Weiman added: “My team and Newmark fit together culturally, and all of the Denver employees are eager to work closely with Newmark professionals in Denver, as well as in other markets. Since the acquisition, we’ve already begun working with other Newmark V&A teams across the country.” The Denver team comprises 23 employees, of which 6 are MAI designees, along with certified general appraisers and junior appraisers.
“I have enjoyed this process immensely and am very excited for the future,” he continued, “My colleagues and I are incredibly impressed with the quality of the Newmark senior leadership. For instance, John Busi’s vision for V&A growth aligns perfectly with our personal and professional goals, and I am confident in our ability to merge our expertise and client-focused relationships with Newmark’s national platform and industry experts. Our clients, as well as the Denver team, will benefit from this acquisition.”
As a result of the ten IRR office acquisitions, the additions of Southeast Realty Consultants (a multifamily practice headquartered in Atlanta and led by Raymond Higgins), Salus Valuation (a national senior housing/healthcare practice headquartered in Palm Beach and led by Norm LeZotte) and recruiting and on-boarding of top professionals from the leading firms in the market, V&A headcount has increased from 30 to 400 employees in 55 locations across the Americas in just under 18 months.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”), is one of the world’s leading commercial real estate advisory firms. Newmark Group has over 4,900 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, Newmark, 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 Group, 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.