WASHINGTON (dpa-AFX) - BGC Partners, Inc. (BGCP) said Friday that it has completed its acquisition of all of the outstanding shares of Newmark & Company Real Estate, Inc., a major U.S. commercial real estate brokerage and advisory firm serving corporate and institutional clients, plus a controlling interest in its affiliated companies, encompassing about 425 brokers.
The deal was originally announced in late April.
Newmark & Company Real Estate, Inc. operates as Newmark Knight Frank in the United States and is associated with London-based Knight Frank. Headquartered in New York, Newmark has offices in over 40 key markets.
The acquisition of Newmark is expected to be accretive to BGC, which will provide fourth quarter guidance that incorporates Newmark's business in BGC's third quarter financial results on October 27.
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