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BGC Partners Acquires Bethesda-Based Berkeley Point Financial For $875M

New York financial services firm BGC Partners acquired Bethesda-based Berkeley Point Financial for $875M.

Howard Lutnick, CEO of BGC Partners
Newmark Chairman Howard Lutnick

The multifamily and healthcare real estate finance company was tapped from an affiliate of Cantor Fitzgerald, CoStar reports. BGC plans to combine Berkeley Point with its real estate services arm, Newmark Knight Frank, which it recently rebranded and is preparing to take public

Berkeley Point is listed as Fannie Mae's fifth-largest affordable housing loan producer and a Top 10 overall industry producer last year. Merging the company with ARA, NKF's Top 3 multifamily investment sales business, will place the firm among the top tier of loan producers in the country. 

The deal is expected to close this year and is subject to regulatory approvals from Fannie Mae, Freddie Mac and the Department of Housing and Urban Development. In addition to the deal, BGC also said it plans to invest $100M to create a new commercial real estate and finance business as part of NKF.