By Scott Baltic, Contributing Editor
BGC Partners Inc., of New York, the parent entity of Newmark Grubb Knight Frank, has acquired two prominent regional CRE firms, one in Philadelphia and one in Denver, BGC announced Wednesday. Each of the two had already been a NGKF partner company. Financial details were not disclosed for either transaction.
In Philly, the target was Smith Mack, which has been an NGKF partner since 2009. Founded nearly 30 years ago, Smith Mack has offices in downtown Philadelphia; Wayne, Pa.; Wilmington, Del.; and Marlton, N.J.
According to the announcement, “virtually all” of Smith Mack’s current brokerage and advisory professionals will remain with the company. Smith Mack’s founding partners Sidney V. (Sid) Smith Jr., Jeff Mack and Reid Blynn have been named executive managing directors of Newmark Grubb Knight Frank.
Smith, the company’s managing partner, has represented some of the Philadelphia region’s largest institutional clients in acquiring land. In 1986, he assembled the land on which Bell Atlantic Properties built the 1 million-square-foot Bell Atlantic Tower.
Mack has represented SunGard Data Systems Inc. in more than 85 transactions involving properties in the Philadelphia region, New York, Chicago and other U.S. cities, as well as London; Pune, India; Christchurch, New Zealand; and Stockholm.
Blynn also specializes in corporate real estate and tenant representation and is a graduate of The Haverford School and Denison University.
In Denver, BGC has acquired Frederick Ross Co., a Newmark Grubb Knight Frank partner since 2010. Founded around 1890, Frederick Ross is both Denver’s oldest full-service commercial real estate firm and the largest locally owned CRE service business in Colorado, with additional operations in Utah, Arizona and California.
Frederick Ross specializes in commercial brokerage, consulting and property management, but is also active in apartment building and multi-family land sales through its Apartment Realty Advisors affiliate and conducts development and investment activities through Westfield Co. Inc., with operations in Colorado and Arizona.
John (Jack) Box, president and CEO of Frederick Ross for 24 years, will assume the title of chairman for this NGKF region. He was recognized as honorary dean for 2002 by the University of Denver Franklin L. Burns School of Real Estate and Construction Management. In 2001, he was awarded the 2000 NAIOP President’s Award for contributions to the real estate community.
Executive vice president and COO Kevin McCabe, who heads the brokerage group at Frederick Ross, has been appointed executive vice president and managing director for Colorado. He was recognized in the Denver Business Journal Power Book for 2011, which honors C-level executives who are Denver’s most influential business leaders.
Like us on facebook: https://www.facebook.com/pages/Commercial-Property-Executive/258033884191