Heritage Capital Group Advises Walchle Lear in the Sale to Newmark Grubb Knight Frank
Heritage Capital Group is pleased to announce the successful sale of Walchle Lear Multifamily Advisors ("Walchle Lear") to Newmark Grubb Knight Frank ("NGKF"), a division of BGC Partners, Inc. (NASDAQ:BGCP). Wachle Lear will operate under NGKF's ARA brand as ARA Newmark.
Led by Bart Walchle, Steve Lear, Erik Bjornson and Tyler Nilsson, Walchle Lear specializes in the brokerage of multihousing communities and multifamily residential and mixed use land throughout North Florida and Southeast Georgia. In addition to selling many of the area's institutional-quality multihousing communities, Walchle Lear has extensive experience marketing seasoned and value-add properties. Through its years of experience, the firm has gained a tremendous amount of respect within both the institutional and acquisition rehab investor communities. The firm also carries expertise in all issues related to development, including entitlement, growth management, planning and engineering.
ARA, a Newmark Company, is the largest full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing, and capital sourcing of multihousing properties. Asset classes include conventional, affordable, distressed assets, notes sales, seniors, student, manufactured housing, and multihousing land.
"We are very excited to join ARA Newmark. Our clients will greatly benefit from ARA Newmark's full-service, global platform." stated Bart Walchle, co-owner of Walchle Lear. "We are grateful to Heritage for their guidance and sound advice throughout this process. They focused on understanding our objectives, and provided the transaction experience necessary to secure this outstanding partnership."
Howard Serkin, Chairman of Heritage Capital Group, advised Walchle Lear in this transaction. Howard commented, "It has been a pleasure working with Bart, Steve, and the Walchle Lear team in implementing this significant step in their growth strategy. They have done an exceptional job growing the company, and are highly regarded for their expertise and knowledge of the multihousing investment market in the Southeast. NGKF is looking to expand its national footprint in the multifamily sector. This is a great fit for both companies. Heritage was honored to contribute to the success of this transaction."
Heritage Capital Group is an investment banking and financial advisory firm serving middle-market and emerging growth companies in the U.S. and worldwide. For 40 years, Heritage has provided objective advice to private companies in the areas of mergers, acquisitions and divestitures; business valuations; debt and equity capital raises; corporate restructurings; and financial and strategic advisory services focused on enhancing the value of business enterprises. Heritage Capital Group is a FINRA registered broker-dealer and the Florida, USA member firm of Oaklins, the world's most experienced mid-market advisor.