Newmark Group, Inc. (NASDAQ: NMRK) ("Newmark" or "the Company"), today announced that it has received approval from the U.S. Bankruptcy Court for … Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. Newmark Announces Executive Team to Run the Business of Knotel, Post Acquisition Newmark Group, Inc. (Nasdaq: NMRK) (“Newmark” or “the Company”), today announces that it has hired Michael Gross, Eric Gross and Yoav Gery… Newmark Group Inc., a commercial real estate service company, plans to acquire Knotel Inc.'s business through the coworking company's Chapter 11 bankruptcy process. Newmark anticipates the acquisition will close shortly. Our integrated platform seamlessly powers every phase of owning or occupying a property. On March 18, 2021, Newmark Group, Inc. acquired real estate company Knotel, Inc. Acquisition Highlights. Knotel is a customized flexible workspace provider; debtors operate properties primarily in New York and San Francisco, while nondebtor affiliates operate globally: Seeks to sell substantially all assets to Digiatech, a subsidiary of Newmark Group, as stalking horse with a $70 million going-concern credit bid 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. Media Contact:Karen Laureano-Rikardsen+1 212-829-4975, Investor Contact:Jason Harbes, CFA +1 212-829-7124, View original content to download multimedia:http://www.prnewswire.com/news-releases/newmark-to-complete-acquisition-of-knotel-301250597.html. Knotel has filed for Chapter 11 bankruptcy and is in the process of being bought by Newmark Group. In 2019, Newmark generated revenues in excess of $2.2 billion. Knotel was recently sold to Newmark Group, a commercial real estate powerhouse with $1.9 billion in annual revenue, and which previously invested … Newmark anticipates the acquisition will close shortly. 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. You must click the link in the email to activate your subscription. It also added Gross' brother Eric, also a … NEWMARK GROUP INC: 10.37 ... for its U.S. business earlier this year and is in the process of completing a sale to real-estate services firm Newmark Group Inc. New York-based Knotel… Commercial real estate firm Newmark Group bought Knotel out of bankruptcy, and installed former WeWork vice chair Michael Gross as CEO. --Newmark Group, Inc. today agreed to provide debtor-in-possession financing to Knotel, Inc. and acquire Knotel's business through its Chapter … NEW YORK, March 18, 2021 /PRNewswire/ -- Newmark Group, Inc. (NASDAQ: NMRK) ("Newmark" or "the Company"), today announced that it has received approval from the U.S. Bankruptcy Court for the District of Delaware to acquire the business of Knotel, Inc. ("Knotel"), a leading global flexible workspace platform. The transaction is an asset sale under Section 363 of the U.S. Bankruptcy Code. After submitting your information, you will receive an email. Then this past weekend, Knotel co-founder Amol Sarva shed some more light on the situation — essentially publicly trashing Newmark, which had co-led the startup’s $70 million Series B … Newmark Group announced that it has received approval from the US Bankruptcy Court for the District of Delaware to acquire flexible workspace platform Knotel. "We are providing capital to Knotel so it can right-size its business for the path forward. These include statements about the effects of the COVID-19 pandemic on the Company's business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. NEW YORK, Jan. 31, 2021 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark") today agreed to provide debtor-in-possession ("DIP") financing to Knotel, Inc. ("Knotel") and acquire Knotel's business through its Chapter 11 sales process. Additionally, Newmark owns all of the outstanding first and second-lien secured debt of Knotel. ", "Newmark's commitment offers a path forward amidst this challenging climate," said Knotel Co-Founder and Chief Executive Officer Amol Sarva. To facilitate this transaction under Section 363 of the United States Bankruptcy Code, an affiliate of Newmark has agreed to provide Knotel with approximately $20 million in cash as DIP financing to support Knotel through the bankruptcy process. Lev Vel Group Offers Multi-Tenant Office Asset in Ballard for Sale The Registry-January 18, 2021 0. Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate services, with a comprehensive suite of … In 2020, Newmark generated revenues in excess of $1.9 billion. NEW YORK, March 18, 2021 /PRNewswire/ -- Newmark Group, Inc. (NASDAQ: NMRK) ("Newmark" or "the Company"), today announced that it has received approval from the U.S. Bankruptcy Court for the District of Delaware to acquire the business of Knotel, Inc. ("Knotel"), a leading global flexible workspace platform. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. To receive notifications via email, enter your email address and select at least one subscription below. ... Newmark Announces Executive Team to Run the Business of Knotel, Post... March 24, 2021. Knotel’s platform of made-to-measure spaces, services, and terms for companies of up to 1,000 employees enables CEOs to size and design their spaces to their needs and change them over time. ... Newmark Announces Executive Team to Run the Business of Knotel, Post... March 24, 2021. Newmark's agreement to acquire Knotel assets is subject to approval from the United States Bankruptcy Court. Newmark and Knotel share a vision of the future of work: flexibility. Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. 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. View original content to download multimedia:http://www.prnewswire.com/news-releases/newmark-to-acquire-assets-of-knotel-301218584.html. "Flexible workspace has been one of the fastest-growing areas of commercial real estate, and we expect this adaptive model will play an important role in the future of our industry," said Newmark Chief Executive Officer Barry Gosin. NEW YORK, March 18, 2021 /PRNewswire/ -- Newmark Group, Inc. (NASDAQ: NMRK) ("Newmark" or "the Company"), today announced that it has … Real-estate startup Knotel Inc. filed for chapter 11 bankruptcy for its U.S. business on Sunday, agreeing for the company to be taken over by real-estate services firm Newmark Group Inc. Our integrated platform seamlessly powers every phase of owning or occupying a property. Knotel has announced plans to accelerate its transformation into a more capital efficient business and reorganize its operations and capital structure under new … We look forward to completing our purchase of Knotel and welcoming so many of their talented professionals to Newmark.". After submitting your information, you will receive an email. Newmark anticipates the acquisition will close shortly. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Discussion of Forward-Looking Statements about Newmark. We have engaged Hilco Real Estate, a real estate restructuring specialist, to assist Knotel.". Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. NEW YORK, March 18, 2021 /PRNewswire/ -- Newmark Group, Inc. (NASDAQ: NMRK) ("Newmark" or "the Company"), today announced that it has received approval from the U.S. Bankruptcy Court for the District of Delaware to acquire the business of Knotel, Inc. ("Knotel"), a leading global flexible workspace platform. "As a global commercial real estate leader, Newmark believes that our nimble integrated platform, combined with Knotel's capabilities, will provide superior management and consulting services to corporations and owners around the world. Environmental, Social and Governance Committee Charter, http://www.prnewswire.com/news-releases/newmark-to-acquire-assets-of-knotel-301218584.html. NEW YORK, March 18, 2021 /PRNewswire/ -- Newmark Group, Inc. (NASDAQ: NMRK) ("Newmark" or "the Company"), today announced that it has received approval from the U.S. Bankruptcy Court for the District of Delaware to acquire the business of Knotel, Inc. ("Knotel"), a leading global flexible workspace platform. This is Newmark Group’s 3rd transaction in the Real Estate sector. This is Newmark Group’s 2nd transaction in New York. "We are optimistic that, through a successful restructuring, we can refocus on our mission of providing state-of-the-art, tailored flex space in key U.S. and international markets. Newmark Group Inc. is set to take over the company and provide $20 million in debtor-in-possession financing. Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. These include statements about the effects of the COVID-19 pandemic on the Company's business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. "We look forward to supporting Knotel through this difficult period," said Newmark Chief Executive Officer Barry Gosin. Knotel co-founder Amol Sarva took some shots at its new owner, Newmark, on his way out the door of the flex office company he ran into the ground. Discussion of Forward-Looking Statements About NewmarkStatements 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. (Photo Credit: Knotel) Despite recent fundraising, Knotel has filed for chapter 11 bankruptcy. … You can sign up for additional subscriptions at any time. Flexible workspace company Knotel has filed for chapter 11 bankruptcy, despite recently raising funds. Knotel ’s outgoing CEO, Amol Sarva, slammed Knotel’s new owner, Newmark, for hiring “WeWork bros” in his place.. In recent months, the flex-office provider … About Newmark Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. Newmark to Complete Acquisition of Knotel, Environmental, Social and Governance Committee Charter, http://www.prnewswire.com/news-releases/newmark-to-complete-acquisition-of-knotel-301250597.html. To learn more, visit nmrk.com or follow @newmark. In a farewell letter last week, Sarva slammed Newmark for hiring “a group of Adam Neuman[n]-era WeWork bros to lead the company forward.” Sarva founded Knotel in 2016 with Edward Shenderovich to offer midsize and enterprise companies private workspace with their own branding, which Knotel then manages and has flexible lease terms. You must click the link in the email to activate your subscription. Lev Vel Group Offers Multi-Tenant Office Asset in Ballard for Sale The Registry-January 18, 2021 0. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. Our integrated platform seamlessly powers every phase of owning or occupying a property. To receive notifications via email, enter your email address and select at least one subscription below. You can sign up for additional subscriptions at any time. To learn more, visit nmrk.com or follow @newmark. Newmark will provide an update on the projected financials related to the acquisition on its first quarter 2021 earnings conference call. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. 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