NKF Expands Valuation & Advisory Group With IRR Acquisition
Newmark Knight Frank will acquire the assets of six Integra Realty Resources offices by the end of the week in a deal that will strengthen the brokerage's Valuation & Advisory Practice Group, which has already experienced significant growth over the past year.
The offices are in New York/New Jersey, Philadelphia, Wilmington, Baltimore, Washington, D.C., and Atlanta.
“This deal is the centerpiece of a carefully developed strategy. The professionals that will now become part of the NKF platform were founding partners in the IRR franchise, and their names have long been associated with that known brand," NKF Valuation & Advisory President John Busi said in a release. "After spending our careers as competitors, we now have the opportunity to work side-by-side to build a business that combines all the best elements of the organizations we came from."
NKF also announced plans to acquire Berkeley Point Financial, a leading commercial real estate finance company, to expand its Capital Markets group. CoStar reports that the two acquisitions will add 168 professionals to NKF's team in 20 office markets throughout the country.
The latest acquisition was handled by NKF CEO Barry Gosin and Valuation & Advisory President John Busi.