ARA Advisors acquired by parent of real estate brokerage NGKF

Miami /
Dec.December 01, 2014 12:45 PM

Commercial real estate brokerage ARA Advisors has been acquired by the parent of Newmark Grubb Knight Frank.

NGKF’s New York-based parent BGC Partners has signed a $110 million deal to buy ARA Advisors and its member affiliates, according to a published report.

The company expects that the addition will boost NGKF’s presence in the multifamily market, the South Florida Business Journal reported.

“ARA has built a strong presence in key markets such as Texas, Florida, Northern California, Colorado and the Carolinas, each of which have seen significant population and job growth, and with offices in 28 cities, they are well positioned for continued success and future growth,” said NGKF President James Kuhn in a news release.

The deal is expected to close in the fourth quarter. In the Business Journal’s ranking of the region’s top commercial real estate brokerages, ARA placed seventh with $777.6 million in sales/leases while NGKF came in at 14th with $202.9 million in sales/leases. [South Florida Business Journal]Chris Guanche


Related Articles

arrow_forward_ios
Tal Frydman with Hamlet Plantation and The Continental Apartments (Credit: Hamlet via Jenco Properties)
Prism Multifamily Group buys apartments in Tamarac, Plantation for $54M
Prism Multifamily Group buys apartments in Tamarac, Plantation for $54M
Rendering of The Kavista
Barrington Brothers plans mid-rise apartment project in El Portal
Barrington Brothers plans mid-rise apartment project in El Portal
Jay Jacobson of Eden Multifamily and Lazul Apartments (Credit: Google Maps)
North Miami Beach apartment project nabs $71M refinancing
North Miami Beach apartment project nabs $71M refinancing
Barry Sternlicht and the Villa Biscayne Apartments (Credit: Highmark Residential/VHT Studios)
Starwood snags Homestead apartment complex for $28M
Starwood snags Homestead apartment complex for $28M
Starwood Capital Group’s Barry Sternlicht and 5500 North Haverhill Road
Starwood Capital nabs West Palm apartment complex
Starwood Capital nabs West Palm apartment complex
4200 Northwest 19th Street and Code Capital Managing Partner Jared Remington (Credit: Google Maps and LinkedIn)
Code Capital snags affordable housing complex in Lauderhill for $45M
Code Capital snags affordable housing complex in Lauderhill for $45M
Bella Apartments at 225 179th Drive (Credit: Google Maps)
Investor buys Sunny Isles apartments
Investor buys Sunny Isles apartments
Greystar’s Bob Faith, The Mile (Credit: BuzzBuzzHome)
Greystar sells The Mile apartments for $40M
Greystar sells The Mile apartments for $40M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...