The Real Deal New York

Cushman to buy Massey Knakal for $100M: sources

Deal for full stake in brokerage expected to close today

December 11, 2014 03:50PM

knakal-forst

From left: Bob Knakal, Paul Massey and Edward Forst

Cushman & Wakefield is close to acquiring investment sales brokerage Massey Knakal Realty Services for $100 million. 

The deal for a full stake is expected to close today, the New York Observer reported, citing unnamed sources. Massey Knakal, led by Paul Massey and Bob Knakal, hired Perella Weinberg Partners to sell a 49 percent non-controlling stake in the firm last month, as previously reported.

But in an email that Massey sent to brokerage staff, he denied that any deal had been completed. “We’ll let you know when there is actual news,” he continued.

In addition to Cushman, CBRE Group and DTZ were among the interested buyers. Knakal and Massey said they would prefer to sell a non-controlling stake. [NYO]Mark Maurer


 

 

  • Sh!t My Tenants Say

    What will MK do with all of those extra napkins?

    • How do you trademark a Map

      They will use it for the NY Jets ticker tape parade in like 100 million years…..

    • no-permits

      they can give them to ofer when he goes under in the next downturn.

  • patmgee

    Bob will buy an office building and start doing what he should have been doing since he gets all the good deals first.

  • David Lohr

    Is Philip Frost MD. of Castle Brans Inc. stock symbol ROX lending the money
    to Cushman through his Ladenburg Thalman?

  • David Lohr

    ROX stock being bought buy Tierry Rousell of Switzerland!

  • Bob Alexander

    What if after the company is bought, Bob Knakal leaves the firm? That’s more than half of their business. It’s not like MK has a huge infrastructure in place that’s worth $100M. It’s the deals and the deals are done by Knakal himself. I don’t think anyone can argue that.

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