NEW YORK, April 13, 2012 /PRNewswire/ --
--
Integration of Newmark Knight Frank
and Grubb & Ellis Underscores BGC's Commitment to Build a
Premier Position in Commercial Real Estate
BGC Partners, Inc. (NASDAQ: BGCP) ("BGC"), a leading global
brokerage company, today announced the closing of its acquisition
of assets of Grubb & Ellis Company ("Grubb & Ellis"),
following the recent approval of the transaction by the U.S.
Bankruptcy Court for the Southern District of New York.
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BGC is rapidly integrating Newmark
Knight Frank, one of the largest commercial real estate
firms in the U.S. which it acquired in October 2011, with Grubb & Ellis, one of the
nation's best-known commercial real estate brands, forming
Newmark Grubb Knight Frank, its new
full-service commercial real estate platform. In addition to
the Grubb & Ellis professionals now joining the combined firm,
Newmark Knight Frank has added over
50 top producing brokers in offices across the country in the last
several months.
Michael Lehrman, Global Head of
Real Estate at BGC, said, "With more than 100 offices in
North America, 250 million square
feet in Property and Facilities Management, and an outstanding
national Appraisal business, the creation of Newmark Grubb Knight Frank is a game-changing
moment in the real estate industry. Newmark Knight Frank and Grubb & Ellis each
have consistently ranked among the leading companies in the real
estate industry, and now these two great brands have come together
as an even more impressive competitive presence in the real estate
marketplace."
Barry Gosin, CEO of the combined
Newmark Grubb Knight Frank,
commented, "Our value proposition embraces a portfolio of
management services, capital markets, corporate services,
investment sales, leasing, tenant and landlord representation,
property and facilities management, industrial engineering,
appraisal and valuation services. In short, it's a fresh and
comprehensive way of identifying creative, fully integrated
solutions to meet clients' complex real estate objectives by
applying BGC's capital, management, and technology as we enlarge
the scale of our real estate services platform and expand into new
markets."
Mr. Lehrman added, "Our integrated real estate business brings
together an extraordinary team of best-in-class brokers, property
management, facilities management and appraisal executives and
their staff. This transaction is a testament to the
dedication and shared client focus of literally hundreds of
individuals at BGC, Newmark Knight
Frank, Grubb & Ellis and their respective
affiliates.
Jimmy Kuhn, President of the
combined Newmark Grubb Knight Frank,
said, "With our teams working together, we have already won
significant new mandates. Clients are telling us that with the
proven strengths of Newmark Knight
Frank, Grubb & Ellis's investment sales capabilities and
expertise across multiple practice groups, and BGC's expertise in
global capital markets, Newmark Grubb
Knight Frank represents one of the most powerful solutions
in the real estate industry."
About BGC Partners
BGC Partners, Inc., a leading global brokerage company servicing
the wholesale financial markets and commercial real estate
marketplace, has approximately 7,000 employees in New York, London and more than 30 other financial
centers around the world, and conducts over $200 trillion in financial transactions for
customers annually. BGC offers its customers over 220 products,
including commercial real estate, fixed income securities, interest
rate swaps, foreign exchange, equities, equity derivatives, credit
derivatives, commodities, futures, and structured products.
BGC's technology helps customers determine the value of a
transaction and execute transactions at the best possible price.
BGC's customers include many of the world's largest banks,
hedge funds, governments and investment firms. Trades are executed
through BGC's brokers, or through its hybrid and fully electronic
brokerage services.
BGC, named after fixed income trading innovator B. Gerald Cantor who founded Cantor Fitzgerald
in 1945, also offers financial technology solutions, market data,
and analytics through its eSpeed, BGC Trader, and BGC Market Data
brands, and provides clearing, processing, and other support
services. For more information, please visit
http://www.bgcpartners.com.
About Newmark
Grubb Knight Frank
A part of BGC Partners, Inc., Newmark
Grubb Knight Frank is one of the largest commercial real
estate service firms in the U.S. It brings together the strategic
consultative approach to creating value for clients and leading
position in the New York market
that are hallmarks of Newmark Knight
Frank, the complementary strengths of Grubb & Ellis in
leasing and management, investment sales, valuation, and capital
markets services, and BGC's financial strength, proprietary
technology, and unrivalled relationships with the world's leading
financial institutions and other outstanding businesses.
Newmark Grubb Knight Frank and
its London-based partner Knight
Frank together operate from more than 240 offices in established
and emerging property markets on five continents. This major force
in real estate is meeting the local and global needs of tenants,
owners, investors and developers worldwide.
Forward-Looking Statements by BGC
Partners
Statements in this press release regarding BGC Partners'
business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. 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 Partners' Securities and Exchange Commission
(SEC) 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.