Newmark Group, Inc. Acquires Hopkins Appraisal Services, Adds Restaurant and Retail Petroleum Specialty Asset Classes to Valuation and Advisory Practice
NEW YORK, Jan. 15, 2020 /PRNewswire/ -- Newmark Group, Inc. (NASDAQ: NMRK) ("Newmark or the "Company"), which operates a leading full-service commercial real estate services business, Newmark Knight Frank ("NKF"), today announced it has acquired the assets of HVS, Inc., which operates under the name Hopkins Appraisal Services ("Hopkins"), a national leader in the valuation of restaurants and retail petroleum facilities.
This acquisition, led by NKF Valuation & Advisory ("V&A") President John Busi, is expected to further expand NKF's three-year-old V&A practice into a leading valuation service provider in the Americas. Hopkins, headquartered in Overland Park, Kansas, with a professional workforce of nearly 40 employees, has been a dedicated multi-unit retail specialist for approximately 45 years. The firm has valued more than 100,000 gas stations and restaurants in the United States and Canada.
Hopkins is the latest addition to NKF's burgeoning V&A practice. Through a combination of hiring and acquisitions, V&A has increased its headcount by over 500 in the past three years to more than 525 employees.
"The acquisition rounds out our suite of highly specialized verticals, positioning NKF Valuation & Advisory as a preeminent asset class specialist. Hopkins is a recognized leader in restaurant and retail petroleum valuation space. We are thrilled to add them to the V&A specialty practice lines we've created under the formidable leaders we've brought to NKF," said Busi. "As our company continues to transform to a data-driven, expert-based, professional services firm, we were also attracted to the deep retail database that Hopkins brings to NKF."
Hopkins Appraisal Services was founded by Chairman David E. Hopkins, who pioneered many of the valuation techniques now employed by some of the industry's savviest participants. Hopkins President David Hatutian and COO Brock Rule will lead the new specialty vertical for NKF V&A. The new Restaurant/Retail Petroleum Specialty Practice will combine both business and real estate expertise to perform valuations of tangible and intangible multi-unit retail assets.
Hatutian said, "NKF's vision is exemplified by its strong line-up of specialized valuation practices, and we are happy to be part of that offering. Our specialty focus has enabled us to build a market-leading database and methodology in the retail petroleum and restaurant sectors."
Rule added, "Our data and experience combined with NKF's coverage and platform is a win-win for clients."
About Hopkins Appraisal Services
Hopkins Appraisal Services ("Hopkins") is a leader in multi-unit retail valuation, specializing in the appraisal of restaurants and retail petroleum facilities (convenience stores, service stations, truck stops, car washes, etc.), experienced with all elements of value – real estate, equipment and intangible business. Hopkins has more than 45 years of experience and offers complete national coverage from multiple offices. Hopkins' clients include real estate and enterprise lenders, as well as franchisees and operators. Hopkins has appraised over 100,000 convenience stores and restaurants, including large portfolio assignments.
About Newmark Group, Inc.
Newmark Group, Inc. ("Newmark Group") is a publicly traded company that, through subsidiaries, operates as a full-service commercial real estate services business with a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry. Under the Newmark Knight Frank name, the investor/owner services and products of Newmark Group's subsidiaries include capital markets (comprised of investment sales and mortgage brokerage), agency leasing, property management, valuation and advisory, diligence and underwriting. Newmark Group's subsidiaries also offer government sponsored enterprise lending, loan servicing, debt and structured finance, and loan sales. Newmark Group's occupier services and products include tenant representation, global corporate services, real estate management technology systems, workplace and occupancy strategy, consulting, project management, lease administration and facilities management. Newmark Group enhances these services and products through innovative real estate technology solutions and data analytics designed to enable its clients to increase their efficiency and profits by optimizing their real estate portfolio.
Newmark Group has relationships with many of the world's largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. Newmark Group's Class A common stock trades on the NASDAQ Global Select Market under the ticker symbol "NMRK". Newmark is a trademark/service mark and/or registered trademark/service mark of Newmark Group and/or its affiliates. Knight Frank is a service mark of Knight Frank (Nominees) Limited. Find out more about Newmark at http://www.ngkf.com/, https://twitter.com/newmarkkf, https://www.linkedin.com/company/newmark-knight-frank/, and/or http://ir.ngkf.com/investors/investors-home/default.aspx.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
SOURCE Newmark Group, Inc.
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