Newmark acquires RealFoundations, terms not disclosed

Newmark (NMRK) announces the acquisition of RealFoundations, Inc. and its subsidiaries and affiliates, a global professional services firm focused solely on the real estate industry through its management consulting and managed services, based in Dallas, Texas. “We are investing in scaled advisory and managed services capabilities that match the complexity of today’s institutional clients across the full asset lifecycle,” said Barry Gosin, Chief Executive Officer of Newmark Group, Inc. and Chairman of Newmark & Company Real Estate, Inc. “The acquisition of RealFoundations strengthens Newmark’s position as a leading global provider of investor and occupier solutions, advancing our goal to grow recurring Management Services and Servicing revenue to more than $2 billion by 2029.” Terms of the transaction were not disclosed. G-Side Capital Advisors served as exclusive financial advisor to RealFoundations. Newmark RF’s financial results will be included as part of the Company’s growing suite of recurring Management Services and Servicing businesses.