US-based commercial real estate services business Newmark has acquired Gerald Eve. Newmark said the acquisition provided the company with “added depth and breadth of services, augmenting its expansion internationally” and put it in a position to be a “market leader in office, logistics and retail in the UK and Europe”.
Over the few years, Newmark has acquired investment sales and leasing advisory firms BH2 and Harper Dennis Hobbs, as well as Paris-based flexible office operator Deskeo.
Barry Gosin, Newmark chief executive officer, said: “Gerald Eve is a market-leading advisor in the UK. Gerald Eve adds momentum to our goal of having more than 10% of Newmark’s revenue generated from outside of the United States by 2025. The closely aligned values and culture of Newmark and Gerald Eve position this combination for continuity and undisputed industry expertise.”
Simon Prichard (pictured left), who will continue to serve as senior partner of Gerald Eve post-closing, alongside managing partner Simon Rees (pictured right), added: “Joining a top global commercial real estate services company creates significant growth opportunities for Gerald Eve’s clients and our people. For almost 100 years, we have prided ourselves on our market expertise and commitment to client service and, following record revenue in the latest financial year, Newmark’s backing will further strengthen our capability to operate at the top of our game.”
