— Newmark & Co. Real Estate Inc., a commercial real estate services firm in New York, has formed a joint venture with London-based commercial real estate services firm Nelson Bakewell. The new will be called Newmark Nelson Bakewell.
According to James Kuhn, president of Newmark, the joint venture is an opportunity to develop the company’s internationaland advisory business. "The synergy between our companies will enable us to serve our client base by providing investment and corporate advisory services in the vital London economic hub," he said, adding that the venture enables Nelson Bakewell to provide additional services for its clients in New York.
Kuhn said that the relationship was formed to help both firms develop client relationships in a global economy. Newmark Nelson Bakewell will have offices in London and New York, with executives from both firms’ corporate andservices teams as staff. The combined team in New York and London will have 15 senior investment and corporate services professionals.
Newmark Nelson Bakewell represents another move in a strategic international growth plan, which began in 1998. Newmark has grown its national and international presence through new offices, acquisitions and expansions in Washinton, D.C., Los Angeles, Long Beach, Calif.,, Dallas and Tokyo.
In addition, the firm recently acquired an interest in Koeppel Tener Real Estate Services Inc., a full-service appraisal due diligence firm and in KTR Environmental Services Inc.