Newmark Group, the global commercial real estate adviser, said its London-based real estate advisory firms BH2 and Gerald Eve now operate as Newmark.
CoStar News revealed in December that Newmark would announce that all of its companies in the United Kingdom would be known as Newmark in January.
The Nasdaq-listed company had been the largest United States brokerage firm without an independent operation in the United Kingdom until 2019. But New York-based Newmark has been on a major acquisitions drive since ending its 15-year alliance with Knight Frank in 2020.
The acquisition of Gerald Eve, revealed by CoStar News, propelled the group overnight to become one of the largest advisers in the United Kingdom. Gerald Eve was one of the last remaining independent partnership brokers in the country, with 600 staff working across multiple business lines and property types. The company has been trading as Gerald Eve, a Newmark company.
CoStar News revealed in 2021 that Newmark firm was in talks to buy BH2, the company led by Tony Gibbon that is one of London's best-known investment practices. That business has been operating as Newmark BH2.
Newmark said it generated nearly $350 million in revenue from outside the United States in the 12 months that ended Sept. 30, an amount that represented a more than 60% compound annual growth rate since its 2017 initial public offering. The majority has come from the United Kingdom and continental Europe, where the company has built up what it describes as "market-leading talent represented by over 1,000 professionals including" in the United Kingdom, France, Germany, Ireland, the Netherlands, Belgium, Italy and Poland.
“Newmark's rapid and early-phase expansion throughout Europe reflects our commitment to delivering world-class expertise and solutions to our clients across the globe,” said Barry Gosin, chief executive, in a statement. “Unifying our brand positions us to achieve even greater success in critical markets, where we expect to offer services across nearly all verticals in the near future as we continue our expansion internationally."
As well as BH2 and Gerald Eve, it has bought United Kingdom retail adviser Harper Dennis Hobbs. It also picked up flexible offices group Knotel, a firm with European and North American sites, and Paris coworking company Deskeo. Newmark has made key strategic appointments in the United Kingdom, France and Germany.
Newmark has also significantly expanded its international operations over the past several years in markets such as Canada, Mexico, Singapore, Hong Kong and India.
Newmark now operates from more than 20 European offices across multiple business lines and property types, such as capital markets, corporate real estate advisory, debt and structured finance, business rates, planning and development, tenant representation, landlord leasing, and valuation and advisory.
Newmark’s commercial real estate leaders Gibbon, Simon Prichard and David Harper oversee and help drive Newmark’s United Kingdom businesses while Marcus Lütgering, Alexandre Gotti, Francois Blin and Emmanuel Frénot drive Germany and France. All work closely with Michael Lehrman, president of the United Kingdom business, and Newmark’s United States business lines.
Newmark has also confirmed two more senior hires in the United Kingdom: Matthew Featherstone and Steve Williamson.
“The unification of Newmark’s brand around the world creates a dynamic bench of talent and expertise, allowing us to seamlessly connect global capital to opportunities no matter the location," said Lehrman. "This synergy enhances our delivery of innovative, customized outcomes, ensuring our clients remain ahead in an increasingly interconnected market.”
Recovery in European property values is expected to continue in 2025, according to Newmark Research, and investment activity is expected to accelerate throughout the year.