NEW YORK CITY—It's official: Cushman & Wakefield has agreedto acquire Massey Knakal Realty Services for about $100 million,according to the Wall Street Journal. GlobeSt.com reported Friday that the deal likely was taking place.
Cushman reportedly beat out 10 other bidders; a number that wastossed around when the prospect of the deal was first disclosed in November.The deal is expected to close by year's end. Representatives ofCushman and of Massey Knakal did not respond to GlobeSt.com'srequests for comment by press time.
The acquisition will help Cushman build “a more formidablecapital markets presence in the New York Tri-State region,” Cushmantells the Journal. In a statement, Massey said Cushman'sglobal reach “will enhance the breadth of real estate services wecan now offer our clients.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
