Interior of a modern urbanrestaurant in the morning sunlight.

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NEW YORK CITY – Newmark Group, Inc., an operator andfull-service commercial real estate services firm under NewmarkKnight Frank, has announced its acquired valuation company HVS, asubsidiary of Hopkins Appraisal Services. The acquisition will addrestaurant and retail petroleum specialty asset classes toNewmark's valuation and advisory practice.

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"Hopkins is a recognized leader in the restaurant andretail petroleum valuation space. We are thrilled to add them tothe V&A specialty practice lines we've created under theformidable leaders we've brought to NKF," said NKF Valuation &Advisory President John Busi in a prepared statement. "Asour company continues to transform to a data-driven, expert-based,professional services firm, we were also attracted to the deepretail database that Hopkins brings to NKF."

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Hopkins President David Hatutian andCOO Brock Rule will lead the new specializedvertical for NKF V&A. The new Restaurant/Retail PetroleumSpecialty Practice will combine both business and real estateexpertise to perform valuations of tangible and intangiblemulti-unit retail assets.

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"Our specialty focus has enabled us to build a market-leadingdatabase and methodology in the retail petroleum and restaurantsectors," said Hatutian.

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The new acquisition will expand NKF's valuation an advisorypractice, which was launched three years ago. Hopkins is the mostrecent acquisition the firm has made to bulk up the practice,increasing its headcount by 500 employees in the past three yearsto a total of 525.

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Headquartered in Overland Park, Kansas, Hopkins has aworkforce of almost 40 professionals specialized in multi-unitretail. In business for approximately 45 years, the firm has valuedmore than 100,000 gas stations and restaurants in theUnited States and Canada.

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Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.