Newmark Knight Frank, a global, full-service commercial real estate services business, announced that it has acquired MLG Commercial, LLC, a leading commercial real estate company offering brokerage and property management services in Wisconsin.
Acquiring MLG further strengthens Newmark Group’s position in the Midwest, growing its market share in a key region where there is robust demand for commercial real estate services. Adding MLG enhances NKF’s offering and expands its ability to serve clients across the firm’s diverse commercial real estate services platform. Newmark Group has a history of growing through strategic acquisitions, having completed 16 since the beginning of 2017.
“We have a proven track record of acquiring companies, seamlessly integrating teams and enabling them to thrive under the NKF brand. MLG emerged as a perfect fit because the team is similarly growth-minded and focused on excellent client service,” said Barry Gosin, Newmark Group CEO. “Our expansive platform enables our producers to serve clients’ diverse real estate needs. Because of this, acquired companies have been able to increase revenue by an average of 30 percent after becoming part of Newmark. This deal is one of the many steps we have taken to create value and drive momentum through the rest of 2019, along with making strategic hires that expand our geographic presence and enhance our specialized offerings.”
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“NKF has a history of consistent growth and world-class support for brokers that is evident to everyone in our industry,” added John Malloy of MLG. “As we continued to think about expansion and how to give our clients, employees, and our brokerage and property management teams the best resources possible, this was an easy decision.”
Founded in 1987, MLG has established itself as a leading commercial real estate company. MLG specializes in sale, lease, acquisition and property management of industrial, office, retail and multifamily properties and has two offices, located in Madison and Milwaukee. Before the transaction, Barry Chavin, Jack Jacobson, John Malloy, Stephen Provancher, Brian Vanevenhoven, and Bruce Westling were owners of MLG and are among the firm’s top-producing brokers. The team has strong capabilities throughout Wisconsin and a close connection with the Chicago commercial real estate landscape that has reinforced its business development and client service efforts.
Source: Newmark Group