Newmark Group Inc. announced this morning that it has closed on the acquisition of RKF Retail Holdings LLC along with its subsidiaries. Financial terms were not disclosed.
Robert K. Futterman will serve as chairman of Newmark RKF, Newmark’s retail leasing division. Futterman will be responsible for leading the growth of the company’s retail real estate business throughout North America, according to a statement.
“The closing of the acquisition of RKF is a prominent milestone for our business in creating an industry-leading national retail services firm,” Newmark Group CEO Barry M. Gosin said in a statement. “Robert and his team bring a tremendous depth of talent and over two decades of expertise to the dynamic global retail environment. Over time, we expect our newly combined retail platform to produce strong results under Robert’s leadership.”
Along with Futterman, RKF brokers joining Newmark Group include vice chairmen Karen Bellantoni of the New York City office, Robert Cohen of Los Angeles and Jeremy Ezra, Barry Fishbach, Jeff Fishman and Ariel Schuster, all of the New York City office, along with the firm’s management and support teams.
“Today’s achievement brings us one step closer to creating a platform that will reshape and significantly impact the retail industry,” Futterman said. “Today’s retail market is a dynamic environment. Our collective and unique understanding of demand-side trends, customer demographics, the food and beverage industry, experiential innovations in retail, as well as the implications of new accounting rules for our clients will give Newmark RKF an even stronger national platform while providing clients with comprehensive, turnkey services.”
Newmark Knight Frank, which is operated by Newmark Group, has a branch office in Rye Brook that serves Westchester County and the lower Hudson Valley region.