US-based Newmark Group has acquired real estate advisory firm Gerald Eve.
The full service commercial real estate services business said the acquisition augments its international expansion, following the recent purchases of investment sales and leasing advisory firms BH2 and Harper Dennis Hobbs as well as Paris-based flexible office operator Deskeo.
In financial year 2022, Gerald Eve generated net revenues of £92.7 million.
Simon Prichard will continue in his role as senior partner of the business alongside managing partner Simon Rees.
What they said
Newmark’s CEO Barry Gosin said: "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.”
Simon Prichard, senior partner at Gerald Eve said: "Joining a top global commercial real estate services company creates significant growth opportunities for Gerald Eve's clients and our people. Following record revenue in the latest financial year, Newmark's backing will further strengthen our capability to operate at the top of our game."