Newmark Knight Frank (NKF) has agreed to acquire the assets of six Integra Realty Resources offices in New York/New Jersey, Philadelphia, Wilmington, Baltimore, Washington D.C., and Atlanta.
The acquisitions were led by NKF Chief Executive Officer, Barry Gosin and Valuation & Advisory President, John Busi.
NKF earlier agreed to acquire commercial real estate finance company Berkeley Point Financial and made several key hires in its Capital Markets business segment.
The IRR offices will augment an expanding Valuation & Advisory practice group, which has grown in the past year.
“This deal is the centerpiece of a carefully developed strategy,” said Busi. “The professionals that will now become part of the NKF platform were founding partners in the IRR franchise, and their names have long been associated with that known brand. After spending our careers as competitors, we now have the opportunity to work side-by-side to build a business that combines all the best elements of the organizations we came from.”
IRR Wilmington, the only national real estate valuation and advisory firm in the state, was founded in 2005 as a spin-off from IRR Philadelphia and is led by Douglas L. Nickel and Joseph D. Pasquarella.
For further information, visit www.ngkf.com.