Newmark Group acquired Dallas-based global professional services firm RealFoundations as the brokerage looks to expand its management services and servicing revenue.

Newmark CEO Barry Gosin said in a press release that the company is expanding to better meet the needs of today’s large, sophisticated property owners. Terms of the deal weren’t disclosed.

"The acquisition of RealFoundations strengthens Newmark's position as a leading global provider of investor and occupier solutions, advancing our goal to grow recurring Management Services and Servicing revenue to more than $2 billion by 2029," Gosin said in a statement.

Newmark recorded about $582M in management services and servicing revenue through the first two quarters of 2025.

With the acquisition, Newmark gains a RealFoundations client portfolio with a combined asset value of more than $10T. That portfolio covers more than 10B SF and 7 million residential units globally. At the time of the merger, RealFoundations had more than 500 employees and supported over 600 real estate clients in the U.S., Europe and Asia-Pacific, according to its website.

The RealFoundations leadership team will continue to lead the business branded as Newmark RF, part of Newmark's investor solutions group. Newmark RF's financial results will be included as part of Newmark Group's recurring management services and servicing businesses.

Newmark RF's leadership includes President Chris Shaida, Executive Vice President of Growth David Stanford, Executive Vice President of Revenue John Seaton, Executive Vice President of Managed Services Dan Sterk and Executive Vice President of Management Consulting Phillip McCorkle.

News of the acquisition comes two days after Newmark announced that Secretary of Commerce Howard Lutnick had completed the divestiture process of approximately 11 million shares in the firm. Lutnick resigned as chairman of the board and executive chairman of Newmark in February after his Senate confirmation.