Press Release Details

Home  >  Investors  >  News Releases  >  Financial and Corporate Releases  >  Press Release Details
View all news

Newmark Grubb Knight Frank, a Division of BGC Partners, Inc., Acquires Multihousing Operation in Tennessee


NGKF Continues to Grow Footprint in Mid-South Region with Addition of New ARA Newmark Office

Memphis, TN, Mar 16, 2016 -- Newmark Grubb Knight Frank ("NGKF"), a division of BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," or "BGC"), a leading global brokerage company servicing the financial and real estate markets, announced that it completed its acquisition of Rudesill-Pera Multifamily, LLC, a premier multifamily brokerage firm in Tennessee. The practice will now operate as ARA, A Newmark Company ("ARA Newmark").

Led by Steve Rudesill and Blake Pera, the Memphis-based operation has specialized in multihousing sales since the late 1970s. The firm has a strong track record and depth in the Tennessee market, with a portfolio comprising over 90,000 units sold.

"Steady employment growth in Tennessee has culminated in an increasing demand for housing, making the area a significant market for multihousing investment," stated James D. Kuhn, president of Newmark Grubb Knight Frank. "Steve, Blake and their team are deeply entrenched in Tennessee's multihousing market and their expertise will bolster ARA Newmark's and NGKF's presence in the region."

"This acquisition reflects NGKF's commitment to growing our footprint in the Mid-South region," said James R. Ficarro, chief operating officer of NGKF. "Steve and Blake's multihousing practice has garnered an exceptional reputation in the Tennessee market, and alongside the recently acquired Newmark Grubb Memphis, the practice will add to NGKF's expertise in Tennessee's office, industrial, retail, medical, multifamily and investment sales markets."

"NGKF has made a significant investment to grow its multihousing platform, and Blake and I are excited to be part of that growth. We have been the number one multihousing sales team in the Mid-South for 35 years, and we look forward to contributing to ARA Newmark's dominance in the U.S. multihousing market. The entrepreneurial culture across ARA Newmark and NGKF is a perfect fit and gives us an incredible runway to significantly grow our business," said Steve Rudesill, senior vice president of the newly acquired ARA Newmark office. "NGKF's global platform aligns with our clients' interests and we are pleased to offer increased resources and expertise to our clients through this move."

Joe Steffner, senior vice president and Mid-South regional director, added, "Steve and Blake are the uncontested market leaders for multihousing dispositions in Tennessee. They have no peer in this product segment locally, and we look forward to partnering with them as we expand the NGKF brand across Tennessee and the Mid-South region.

About ARA, A Newmark Company
ARA, A Newmark Company is the largest full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student, manufactured housing and multihousing land. ARA Newmark is comprised of the country's top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA Newmark's unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in an annual production volume of $14 billion in real estate transactions in 2015. For detailed information on ARA Newmark's extensive multihousing investment services, visit

About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF's 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.

With roots dating back to 1929, NGKF's strong foundation makes it one of the most trusted names in commercial real estate. NGKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit NGKF is a part of BGC Partners, Inc.

About BGC Partners, Inc.
BGC Partners is a leading global brokerage company servicing the financial and real estate markets. Financial Services offerings include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures, and structured products. BGC provides a wide range of services, including trade execution, broker-dealer services, clearing, trade compression, post trade, information, and other services to a broad range of financial and non-financial institutions. Through its FENICS, BGC Trader, and BGC Market Data brands, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. BGC Partners is the owner of GFI Group Inc., a leading intermediary and provider of trading technologies and support services to the global OTC and listed markets. Real Estate Services are offered through the Company's Newmark Grubb Knight Frank brand, which provides a wide range of commercial real estate services, including leasing and corporate advisory, investment sales and financial services, consulting, project and development management, and property and facilities management. BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, property owners, real estate developers, and investment firms. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit BGC, BGC Trader, FENICS, FENICS.COM, Capitalab, Swaptioniser, Newmark, Grubb & Ellis, and Grubb are trademarks, registered trademarks and/or service marks of BGC Partners, Inc. and/or its affiliates. Knight Frank is a service mark of Knight Frank (Nominees) Limited.

Discussion of Forward-Looking Statements about BGC Partners

Statements in this document regarding BGC's businesses that are not historical facts are "forward-looking statements" that involve risks and uncertainties. Except as required by law, BGC undertakes no obligation to release any revisions to any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC's Securities and Exchange Commission filings, including, but not limited to, the risk factors set forth in these public filings, including the most recent Forms 10-K and any updates to such risk factors contained in subsequent Forms 10-Q or Forms 8-K.

Categories: Press Releases
View all news