New York-based brokerage Newmark Grubb Knight Frank is breaking into South America, having recently partnered with four companies there to refer clients and exchange research.
Talks with the South American companies had ended in April after several months. Newmark will be known as Newmark Grubb Brazil in Brazil, Newmark Grubb BACRE in Argentina, Newmark Grubb Contempora Servicios Inmobilarios in Peru and Chile, and Newmark Grubb Fonnegra Gerlein in Colombia. Financial services titan BGC Partners bought Newmark in 2011.
“We’re filling out the pipeline by acquiring companies and brokers all over the country,” Barry Gosin, chief executive of NGKF, said, as cited by the Wall Street Journal. [WSJ] — Mark Maurer