Newmark Knight Frank buys Gale management company.
The acquisition establishes a new division, Newmark Knight Frank Global Management Services (GMS), announces CEO Barry M. Gosin.
Together with the firm's existing property management business, Newmark Knight Frank is now one of the largest property/facilities management firms worldwide, with a leasing and management portfolio in excess of 100 million square feet covering 49 of the United States and over 40 countries.
Both domestically and internationally, Newmark Knight Frank GMS has established a successful track record while operating as GFS, serving a wide client base that includes major financial services firms, electronics groups, airlines, and telecommunications companies. Clients include AT&T, GlaxoSmithKline, Panasonic Corporation of North America, Simon Property Group (for which GMS provides facilities maintenance and janitorial services), UPS, and New York Life. GMS is ISO-compliant and offers a full range of services, including corporate facilities management; investment and acquisition operational expense due diligence; office services; project management/construction; janitorial services; mechanical services; landscaping services; asset management and lease administration.
"The acquisition of GFS fits beautifully into Newmark Knight Frank's overall strategy," says Scott Panzer, executive vice president and principal of Newmark Knight Frank. "Our goal is not necessarily to be the largest real estate services firm, but to offer our clients the full range of value added services while maintaining the highest reputation for execution and implementation. GFS is known in particular for its expertise in crisis management and superior facilities management systems. Ian Marlow, president of GFS, and the executives at GFS, are considered some of the top authorities in their field with a proven record of cost savings for clients."
Ian M. Marlow, the division's president and chief executive officer, has led the charge to build the infrastructure for the national and international facilities management platform, and will continue to oversee day-to-day operations for the commercial, retail and industrial portfolio.
"Over the past years, we have worked in partnership with our clients worldwide to create value and positive operational impact," says Marlow. "With the depth of our infrastructure and services and the global reach of the Newmark Knight Frank integrated service model, collectively we greatly enhance what both groups can offer to our current and future roster of clients."
One of those clients is Simon Property Group, Inc., a global owner, developer and manager of retail real estate. "Simon is strongly focused on and committed to ensuring that the standards of our properties exceed not only those of our industry, but even more importantly, they exceed the high standards we have set for ourselves. For that reason, we have aligned ourselves with what we consider to be the best in class organizations, like GFS, to help us achieve that goal," said Paula Ramey, vice president, Simon Business Network.
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|Comment:||Newmark Knight Frank buys Gale management company.|
|Publication:||Real Estate Weekly|
|Date:||Apr 18, 2007|
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