NGKF Enhances Presence Throughout South America
- May 21, 2014
Change is afoot in the real estate sector across much of South America, and commercial real estate firm Newmark Grubb Knight Frank is ramping up in an effort to accommodate its clients. The commercial real estate services firm has just created a sizeable footprint in the region with the addition of 50 senior level advisors in Argentina, Brazil, Chile, Colombia and Peru.
“From valuation, appraisal and acquisitions to consulting, site selection, project construction and property management, our broader LatAm coverage is strengthened by this deep bench of stellar professionals,” Barry Gosin, CEO of NGKF, said in a prepared statement.
The new NGKF executives bring to the table a wealth of experience in the South American market, having provided services for any number of big-name international clients: the likes of Hines and Brookfield on the landlord side, and such leading companies as ExxonMobil, IBM, Johnson & Johnson, Morgan Stanley, Sony and Unilever on the user end.
The timing of NGKF’s decision to substantially enhance its presence in the region appears to be just right. Per a report by PwC, Latin America is among the world’s regions where thousands of people migrate from country to city on a daily basis, lured by the new wealth of the economy. By 2020, according to the report, “This migration will be firmly established. The cities will swell–and some entirely new ones will spring up.”
And NGKF’s selection of target countries seems to be spot on, as well. NGKF executives in Colombia told Commercial Property Executive that the office and industrial sectors in the country are seeing a great deal of activity, due to its strategic location in South America, a highly qualified workforce, positive economic results, and political stability. Colombia, along with Brazil and Peru, are among the top five emerging countries in the world, as ranked by participants in the Association of Foreign Investors in Real Estate’s annual survey.
“Our executives have worked together across the region for many years,” Milton Chacon, NGKF regional manager for Latin America, told CPE. “Given the number of regional economic cooperation treaties and increasing number of inter-regional investments, our team will be able to deliver solutions and identify opportunities that transcend beyond country borders and provide a unique regional perspective.”