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WSJ --Cushman & Wakefield to Acquire Massey Knakal
December 15, 2014
Real Estate Firm Agrees to Buy the Boutique Brokerage in a $100 Million Deal
Real-estate services firm Cushman & Wakefield Inc., has agreed to pay about $100 million to acquire Massey Knakal Realty Services, a boutique brokerage that dominates the New York market for midsize office, retail and apartment building sales, according to people familiar with the deal.
Cushman said Sunday it beat out 10 other bidders. The deal is expected to close by year’s end.
The acquisition will help Cushman build “a more formidable capital markets presence in the New York Tri-State region,” Cushman said.