Deal snapshot: BGC PARTNERS TO ACQUIRE REAL ESTATE FINANCE FIRM BERKELEY POINT FOR USD 875M.
US-based brokerage BGC Partners Inc (NASDAQ: BGCP) has agreed to acquire Berkeley Point Financial LLC from US-based financial services firm Cantor Fitzgerald for USD 875m, the company said on Tuesday. Berkeley Point is a Fannie Mae, Freddie Mac and FHA multifamily finance company and commercial loan servicer n acquisition.
BGC said the deal is expected to increase revenues and earnings and will expand product offerings and generate synergies with Newmark Knight Frank, BGC's real estate services business. Berkeley Point is focused on the origination and sale of multifamily and other commercial real estate loans through government-sponsored and government-funded loan programmes, as well as the servicing of commercial real estate loans.
Sector: Banking/Financial Services
Target: Berkeley Point Financial
Buyer: BGC Partners
Vendor: Cantor Fitzgerald
Deal size in USD: 875m
Type: Corporate Acquisition
Buyer advisor: , ,
Comment: Cantor Fitzgerald will continue to hold minority stake
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|Publication:||M & A Navigator|
|Date:||Jul 18, 2017|
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