U.S-based commercial real estate advisory and services firm Newmark Group has acquired London-based real estate advisory business BH2.
Financial terms of the deal were not disclosed.
The acquired BH2 business, led by Tony Gibbon, will operate as Newmark BH2. Gibbon joins with his partners, Dan Roberts, Sam Boreham and Rupert Williams.
”The newly formed Newmark BH2—combining BH2’s local Central London market intelligence with Newmark’s industry-leading infrastructure, technology and product offerings—is perfectly positioned to drive forward Newmark’s growth and client-services in the U.K,” said Newmark in a statement.
“Bringing on Tony, whose name is synonymous with London’s institutional real estate market, one of the world’s largest and most influential, accelerates Newmark’s global growth and unified approach to driving client opportunities,” said Newmark Chief Executive Officer Barry Gosin. “The acquisition of BH2, whose top-tier experts boast an enviable reputation and stellar track record, puts Newmark at the forefront of capital markets and leasing in London.”
Newmark’s Vice Chairman and Co-Head of New York Capital Markets Investment Sales Division, Evan Layne, stated, “Spending several years working alongside, as well as competing with, Tony earlier in my career while building a top advisory firm in Europe, I became so impressed with BH2 that when I returned to the U.S. to help build investment sales at Newmark, I knew there was only one right way to launch the company’s London operations, Newmark must acquire BH2.”
“In almost three decades since forming BH2, we have prioritized working with groups who are intelligent, driven and straightforward; a trait that we have found at Newmark. I felt there was some ‘magic’ in the cultural compatibility. The formation of Newmark BH2 is a confluence of like-minded businesspeople and entrepreneurial spirit,” said Gibbon. “Becoming a part of Newmark enables us to expand cross-border services, particularly tenant representation and debt placement.”
Gibbon and partners each join Newmark with decades of industry leadership and expertise. A 41-year industry veteran, Gibbon was a founding partner of BH2 and is involved in all aspects of the Central London markets.
Both Roberts and Boreham also began their real estate careers in 1999 and joined BH2 in 2012. Roberts specializes in leasing, development consulting and occupier advisory, while Boreham focuses on leasing and occupier services. Williams, whose real estate career began in 1999, joined BH2 in 2010 and focuses on capital markets transactions.