Investor Andrew Farkas, who helped grow the dominant New York-based Edward S. Gordon Company into a global firm that was later acquired by CB Richard Ellis, plans to purchase the commercial services firm NAI Global, according to a statement from the company.
Farkas’ C-III Capital Partners, based in Irving, Tex., entered into an agreement today to buy the company. The terms of the sale were not released. The deal is expected to close in the third quarter.
C-III provides principal investment, loan servicing, loan origination and fund management, the company said. NAI Global, based in Princeton, N.J., has 5,000 professionals in 350 offices around the world, including in Manhattan, according to the statement.
The news comes two months after Howard Lutnick’s BGC Partners announced it planned to buy the American portion of the commercial firm Newmark Knight Frank. The price there was not disclosed, but sources put it between $125 million and $200 million. — Adam Pincus