Newmark to change name following merger

Newmark, one of the largest commercial real estate firms in the U.S., announced Wednesday it would change its name to Newmark Knight Frank by Jan. 1, 2006 because of a recent merger with Knight Frank LLP. Knight is the largest privately owned real estate consultancy in the world, and the new Newmark Knight Frank will have 240 offices in more than 30 countries with about 4,500 employees. The firm will handle transactions valued at more than $41 billion in total consideration, according to a release from Newmark, with annual revenues expected to exceed $545 million.