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BGC Forms Newmark Grubb Knight Frank Upon Closing Of Grubb & Ellis Acquisition

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BGC Partners, Inc. (BGCP: Quote) said Friday that it has completed its acquisition of assets of Grubb & Ellis Co., following the recent approval of the deal by the U.S. Bankruptcy Court for the Southern District of New York.

BGC said it is rapidly integrating Newmark Knight Frank, the commercial real estate firm it acquired in October 2011, with Grubb & Ellis, forming Newmark Grubb Knight Frank, its new full-service commercial real estate platform. In addition to the Grubb & Ellis professionals now joining the combined firm, Newmark Knight Frank has added over 50 top producing brokers in offices across the country in the last several months, BGC said.

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by RTT Staff Writer

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Stocks moved notably higher over the course of the trading day on Friday after initially showing a lack of direction. The gains on the day extended the recent upward trend by the markets, with the tech-heavy Nasdaq reaching its best closing level in almost a month. Looking to capitalize on news of an Ebola diagnosis in New York City, Republican Senate candidate Scott Brown issued a statement Friday criticizing his Democratic opponent Sen. Jeanne Shaheen, D-N.H., for "waffling" on a travel ban. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections.
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