BGC buys Apartment Realty Advisors and members for $110M

Brokerage network to join forces with Newmark Grubb Knight Frank

TRD New York /
Dec.December 01, 2014 11:20 AM

Brokerage firm BGC Partners is buying investment brokerage network Apartment Realty Advisors and its members for $110 million in cash.

BGC is the parent of Newmark Grubb Knight Frank, which is led by James Kuhn. According to a press release filed by BGC, the acquisitions of ARA’s assets and members will drive Newmark Grubb Knight Frank’s growth in the multi-housing capital markets space. The companies BGC is buying are expected to generate an annual revenue of more than $100 million, with pre-tax distributable earnings topping $20 million.

ARA has roughly 100 brokers and offices nationwide. The firm completed more than $3.3 billion in multi-family sales in the first half of 2014, a 42 percent year-over-year increase, according to the release. ARA is the second largest firm in multi-family transactions, according to a ranking by Real Estate Alert.

The transactions are expected to close by the end of the year.

“We expect ARA to strengthen NGKF’s position as one of the top commercial real estate advisory firms and further add to the value and importance of real estate to BGC’s overall business,” said Howard Lutnick, Chairman and CEO of BGC Partners, in the release. — Claire Moses


Related Articles

Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

Real Capital Analytics data showed that New York’s multifamily market had a very slow July. (Credit: iStock)

New NYC rent law “beginning to shut down investment”

Numbers were down across the board (Credit: iStock)

New York’s multifamily market had its slowest first half of the year since 2011

Alex Rodriguez

Watch: A-Rod on the benefits and pitfalls of being a celebrity investor

Alex Rodriguez

Watch: A-Rod on the benefits and pitfalls of being a celebrity investor

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Rent reform is propelling a new wave of New York and California investors to Miami (Credit: iStock)

Rent reform in New York, California propels new wave of multifamily investors to Miami

Brett Siegel, Jean Celestin, and Evan Layne with Newmark Knight Frank offices at 125 Park Avenue (Credit: LinkedIn and Google Maps)

Newmark poaches Eastdil Secured sales team