Commercial real estate firm Cassidy Turley may soon be partnering up, merging with or selling outright to Newmark Grubb Knight Frank or the Blackstone Group.
The firm reportedly hired JPMorgan as an advisor over the summer, aiming to drum up equity and accelerate expansion plans. The goal is to find a match before the end of 2013. JPMorgan asked NGKF, Blackstone and Andrew Farkas’ Island Capital to provide a valuation of Cassidy along with investment proposals, according to a news report. [more]