Cushman & Wakefield to Acquire Massey Knakal Realty Services
NEW YORK CITY — Cushman & Wakefield has entered into an agreement to acquire Massey Knakal Realty Services. The acquisition will enhance Cushman & Wakefield’s global commercial real estate services with a more formidable capital markets presence in the New York Tri-State region. Massey Knakal was founded in 1988 and has more than 200 employees serving more than 200,000 property owners in New York City’s five boroughs, Westchester County, Long Island and New Jersey. The firm is best known for its work in the mid-sized office, retail and apartment building markets. Since its founding, Massey Knakal has closed more than 5,000 transactions, with a market value in excess of $21 billion. The acquisition has been approved by the parties’ respective governing bodies and is expected to close prior to year-end 2014, subject to customary closing conditions. Goldman, Sachs & Co. advised Cushman & Wakefield, while Perella Weinberg Partners LLC advised Massey Knakal in the transaction.