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BGC Partners Buys Denver Real Estate Firm Frederick Ross

BGC Partners (NASDAQ: BGCP  ) has acquired Frederick Ross, a prominent Denver commercial real estate company, BGC announced today. It did not disclose financial terms of the deal.

Since 2010, Frederick Ross has been a partner firm of what is now known as Newmark Grubb Knight Frank, a leading real estate company. BGC acquired Newmark Knight Frank in 2011 and absorbed the former Grubb & Ellis the following year.

Longtime Frederick Ross President and CEO Jack Box will serve as chairman for the relevant NGKF region, BGC said in its statement. BGC quoted NGKF CEO Barry Gosin as saying that with the new acquisition "we will continue to work collaboratively to grow our presence in this important market."

BGC Partners also announced it had acquired Smith Mack, an independent full-service commercial real estate services firm operating in Philadelphia and surrounding regions. Financial terms of that deal were also not disclosed. Smith Mack has been a partner of Newmark Grubb Knight Frank since 2009.


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9/23/2016 4:00 PM
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BGC Partners CAPS Rating: *****