NEW YORK CITY-Looking to expand its brokerage and real estate service business into the retail sector, financial services firm GFI Capital Resources Group has formed GFI Retail Group.

The group will acquire and broker all types of retail properties, as well as joint venture on projects with owners and developers. In addition, the division will focus on exclusive portfolios and act as a broker for owners, as well as act as a tenant representative for retailers.

“For GFI, it was a perfect time. The company has been in business for a long time, and understand all facets of the business,” Lon Rubackin, managing director of the new venture, told GlobeSt.com. “It has always been nimble and opportunistic. For companies that are well-capitalized, this may be the first and only time in recent memory where there will be significant opportunities.”

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