Acquisition of Leading San Francisco Project Management Team Augments National Platform
San Francisco, CA (June 20, 2016) — 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 on June 17, 2016, it completed its acquisition of The CRE Group, Inc. (“The CRE Group”). The CRE Group is a San Francisco Bay Area-based real estate services provider focused on project management, construction management and LEED consulting.
“This acquisition significantly bolsters our existing national program management platform,” said Michael Ippolito, chairman of Global Corporate Services (“GCS”) at NGKF. “We look forward to integrating The CRE Group’s top-of-the-line project managers with our GCS team to seamlessly deliver this enhanced service offering to the Northern California region and beyond.”
“The CRE Group has built a strong reputation as the largest and premier project management group in the Bay Area,” said Chuck Seufferlein, president, western region of NGKF and of Newmark Cornish & Carey. “The expertise and commitment that they bring to their clients complements our strong Bay Area coverage perfectly.”
The CRE Group project managers have extensive project and construction management experience in corporate interiors, hospitality, healthcare facilities and retail, among other sectors. The firm manages both large-scale and small-scale projects for national and international clients throughout the Bay Area and across the country. The firm will continue to do business as The CRE Group and will remain in its existing San Francisco office.
“The CRE Group’s project management delivery model is highly regarded for its incorporation of widely used industry best practices, which will augment our strong global model,” said Thomas Hundelt, executive managing director of program management for NGKF. “Development activity in the Bay Area is strong and The CRE Group is the ideal addition to our platform as we expand in this region.”
“NGKF’s full-service platform and global presence will allow us to expand in this market and across the globe and offer a full suite of real estate services to our clients,” said Rob Cockrum, president and chief executive officer of The CRE Group and senior managing director at NGKF. “We look forward to contributing to NGKF’s national program management platform and Newmark Cornish & Carey’s market-leading brokerage professionals in Northern California.”
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.
