Wednesday, January 2, 2013

BGC Partners Acquires Newmark Affiliates In Denver, Philadelphia

National Commercial Real Estate News From CoStar Group

BGC Partners Acquires Newmark Affiliates In Denver, Philadelphia

BGC Partners, Inc., parent of Newmark Grubb Knight Frank (NGKF), beefed up its presence in Denver and Philadelphia, acquiring separate commercial real estate companies that have operated as Newmark Knight Frank affiliates for several years.

The company acquired Smith Mack, a prominent commercial real estate services company in the greater Philadelphia area that became a Newmark affiliate in 2009. It also bought Frederick Ross Co., the oldest full...

Deal Activity Reaches Fever Pitch At Year-End

Congress and President Obama weren't the only entities negotiating through the holidays. A slew of large commercial real estate transaction closed in the run up to Jan. 1 as many sellers unloaded properties before the expiration of the Bush era tax rates, hoping to avert the prospect of higher capital gains taxes on property sales.

The volume of transactions entering the CoStar research pipeline, generally in line with the previous year during...

RFR Acquires Y&R Headquarters At 285 Madison

RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...

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