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Newmark Group Reports Purchase Of ACRES

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Newmark Group’s (NASDAQ: NMRK) commercial real estate business, Newmark Knight Frank, has acquired ACRES for an undisclosed amount.

"NKF's commitment to acquiring the best expertise in key markets and regions, underscores our focus on expanding local and national service offerings and ACRES fits soundly into our platform of comprehensive services designed to meet the complex and diverse needs of clients," said Barry Gosin, Newmark Group CEO in a press statement.

"With its [ACRES] prominence in industrial, office and capital markets and the growth opportunities in the Salt Lake City Market and the 'Silicon Slopes,' ACRES is an important addition to NKF."

On Wednesday, Newmark shares traded up 0.58% to $8.69.

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