Business
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
About this update from Bgc Group, Inc.
[{"type":"text","content":"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. \n\n \n \n\n \nThis 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.\nHopkins 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.\n\"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.\"\nHopkins 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.\nHatutian 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-lead...