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, announced that it completed its acquisition of Walchle Lear Multifamily Advisors ("Walchle Lear"). The acquired practice, a premier multihousing investment sales brokerage firm based in Jacksonville Beach, Florida, will operate under NGKF's ARA brand ("ARA Newmark").
Led by Bart Walchle, Steve Lear, Erik Bjornson and Tyler Nilsson, Walchle Lear specializes in the brokerage of multihousing communities and multifamily, residential and mixed use land throughout North Florida and Southeast Georgia. In addition to selling many of the area's institutional-quality multihousing communities, Walchle Lear has extensive experience marketing seasoned and value-add properties. Through its years of experience, the firm has gained a tremendous amount of respect within both the institutional and acquisition rehab investor communities. The firm also carries expertise in all issues related to development, including entitlement, growth management, planning and engineering.
"Florida is a significant market for multihousing investment," stated Blake Okland, vice chairman and head of US multifamily for ARA Newmark. "Bart, Steve and their team are deeply entrenched in Florida's multihousing market and their expertise will bolster ARA Newmark's and NGKF's presence in the region."
"This acquisition reflects NGKF's commitment to growing its mulithousing footprint nationwide," said ARA Newmark Vice Chairman Marc deBaptiste. "Walchle Lear has garnered an exceptional reputation in this market. Combined with ARA's existing presence in Orlando, Tampa and South Florida, we will provide our clients with best-in-class capital markets services in all of Florida's key markets."
"We are thrilled to join ARA Newmark and offer NGKF's full-service, global platform to our clients," said Lear. "ARA Newmark's existing Florida presence allows us to expand our coverage in this area and we look forward to contributing to the multihousing investment sales practice in this region."
About ARA, A Newmark Company
ARA, A Newmark Company is the largest full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student, manufactured housing and multihousing land. ARA Newmark is comprised of the country's top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA Newmark's unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in an annual production volume of $14 billion in real estate transactions in 2015. For detailed information on ARA Newmark's extensive multihousing investment services, visit www.aranewmark.com.
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 14,100 professionals operate from more than 400 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.
Discussion of Forward-Looking Statements about BGC Partners
Statements in this document regarding BGC's businesses 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 these public filings, including the most recent Forms 10-K and any updates to such risk factors contained in subsequent Forms 10-Q or Forms 8-K.