Newmark announces that it has entered into a partnership with Montreal-based Devencore. The agreement takes effect today, marking the real estate service firm’s entry into the Canadian commercial market. Now operating as Newmark Devencore, the partnership adds offices in Montreal, Toronto, Ottawa and Vancouver, with a staff of more than 100 professionals.
“We needed a presence in Canada,” said Barry M. Gosin, chief executive officer of New York City-based Newmark. “We are now positioned to better serve our expanding client base throughout North America, working in tandem with this highly regarded firm. We are pleased to partner with Devencore, well-known as an innovative provider of real estate solutions with an exceptional service model.”
Founded in 1972, the Canadian firm had until recently been known as GVA Devencore Worldwide.
“We are delighted to be entering into this partnership with Newmark. Its excellent reputation for providing real estate services is unsurpassed,” said Jean Laurin, Devencore’s chief executive officer. “Joining forces enables us to offer our clients a complete range of strategic real estate services across North America and internationally. Together, we have a real opportunity to develop our service offering and client base across the country and indeed globally. Our goal is to become one of the top three service providers in the world.”
“These are very unusual times for commercial real estate and for the economy in general,” Gosin said. “Indeed, we believe that this is one of those unique periods in time where we have an opportunity to attract incredibly gifted and talented professionals. We have recently added a series of new hires and plan to continue to grow the company in the coming year.”
Newmark is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank Newmark operate from over 195 offices in established and emerging property markets on six continents. Last year, transactions were valued at more than $47.6 billion with annual revenues of over $962 million. With a combined staff of more than 6,900, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit www.newmarkkf.com.