Property firm Gerald Eve’s takeover by American giant confirmed
London-based consultancy property consultancy is bought by US commercial real estate group Newmark, as it expands into the UK and Europe.
Property consultancy firm Gerald Eve has been acquired by American commercial real estate giant Newmark Group.
The move forms part of Newmark’s plans to expand into the UK and European markets from its offices in New York.
Gerald Eve, which operates from nine UK offices, specialises in capital markets, corporate real estate advisory, planning and development, tenant representation, landlord leasing and valuation.
The deal adds to Newmark international expansion, including recent acquisitions of investment sales and leasing advisory firms.
Barry Gosin (main picture, right), Newmark CEO, says: “Gerald Eve is a market-leading advisor in the UK. It 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.”
‘Top of our game’
Simon Prichard (main picture, left), senior partner at Gerald Eve, says: “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.”
Prichard will continue to serve as senior partner of the business, alongside managing partner Simon Rees.
Last year, Gerald Eve generated net revenues of £92.7 million. Newmark reported revenues of $2.7 billion in 2022. It has 180 offices with nearly 6,700 professionals around the world.
