BGC Partners has announced it will acquire all of commercial real estate brokerage Newmark Knight Frank’s U.S. operations, which includes some 425 brokers in 26 markets nationwide.
The move comes about four months after Newmark acquired Thompson Hennessey & Partners and its 10-person Boston brokerage.
Newmark is the U.S. affiliate of the London-based Knight Frank firm. BGC Partners is a global intermediary to the wholesale financial markets whose brands include BGCantor Market Data, eSPeed and BGC Trader. The company is named after fixed-income trading innovator B. Gerald Cantor and has 24 offices around the world.
BGC has added more than 1,000 brokers and grown revenue to $1.3 billion in the past five years. Newmark CEO Barry Gosin and other execs are expected to become partners in BGC once the deal closes, according to reports.
Newmark’s January acquisition of Thompson Hennessey brought its Boston broker headcount to 19. The new brokers that join Newmark Knight from Thompson Hennessey were CEO Catherine Thompson, president John Hennessey and others.
