Topic: How To Invest

Spinoffs, Takeovers & Special Situations Hotline – Friday, November 3, 2017

Article Excerpt

NEWMARK GROUP, has now filed the preliminary paperwork for an initial public offering (IPO) on the Nasdaq exchange under the symbol NMRK. Newmark provides a full range of commercial real estate services to both owners and tenants from its 120 offices in 90 cities across North America. The company was founded in 1929. In 2011, BGC Partners (symbol BCG on Nasdaq), which is controlled by investment banking firm Cantor Fitzgerald, then acquired Newmark. Since 2011, the company has acquired numerous commercial real estate services firms in the U.S. as well as some in Mexico. Newmark closed its latest deal in September 2017 when it paid $875 million to acquire Berkeley Point Financial LLC, a large multifamily mortgage lender in the U.S. Multifamily financing is a type of mortgage that can be used for the purchase or refinance of both smaller multifamily properties (with 2 to 4 units) and large apartment buildings, with many units. Newmark’s commercial real estate business provides a range of corporate…

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