Global property consultancy Knight Frank, and Berkadia, a leader in commercial real estate and a joint venture of Berkshire Hathaway and Jefferies Financial Group, have recently announced their latest alliance to develop and provide capital markets services to multi-market clients globally.
This strategic alliance will establish a premier global capital markets platform, providing clients with access to the most active cross-border investors, international institutions, banks, and sovereign wealth funds. The platform spans all major capital hubs and sources of capital, including the US, Asia Pacific, Europe, the UK, and the Middle East.
Industry sources added that Knight Frank is the world’s largest privately-owned capital markets platform and offers unparalleled access to capital globally, including institutional, sovereign, and private wealth, connecting with over 5,400 ultra-high-net-worth individuals through its Private Office network.
Industry sources also confirmed that Berkadia is a U.S.-based capital markets advisory firm with a proven track record, having successfully originated over $75 billion in commercial loans and advised on $48 billion in asset sales over the last two years. Collectively, both firms offer a global network comprising over 22,750 people across 558 offices in 57 territories. Together they will be one of the world’s leading multifamily brokers.
The Knight Frank Berkadia alliance is founded on compatible cultures and leadership alongside complementary areas of expertise and a shared vision for growth. The depth and breadth of this network will allow clients to navigate the global capital market more effectively and have access to the widest range of opportunities and resources to maximize their property values.
Both firms see a client need for a truly global capital markets service offering and are committed to coming together for the long term. The alliance will be guided by an Alliance Management Board, which will meet quarterly and include senior executives from both organizations, including Neil Brookes, Knight Frank’s Global Head of Capital Markets, and Keith Misner, Berkadia’s Co-Head of Investment Sales. The alliance will also establish an on-the-ground Knight Frank presence in the United States via a secondment, as well as a Berkadia presence in Knight Frank’s London headquarters.
William Beardmore-Gray, Senior Partner & Group Chair at Knight Frank, said: “I am excited to announce Knight Frank’s alliance with Berkadia – a relationship built on our mutual values and an ultimate ambition to become the world’s best, most trusted capital markets platform. Together, we have created an alliance focused on our client’s needs, providing strategic advice and delivering a range of best-in-class capital markets solutions.
“But more than that, we have a shared view of the world, that independent long-term relationships offer a superior experience to all of our clients. This is the beginning of a lasting alliance, one which will cultivate both our firms’ collective expertise and the suite of services we offer our global client base and will provide the perfect complement to our established relationships with our existing partners Cresa and Douglas Elliman.”
Justin Wheeler, CEO of Berkadia, said: “This newly formed alignment between our two firms will have innumerable benefits for clients on both sides. Berkadia’s depth of industry knowledge and experience will flow seamlessly with Knight Frank’s vast global network and valuation expertise to shift our transaction life cycle into high gear.”
Knight Frank now has three U.S.-based partners – Berkadia, Cresa, and Douglas Elliman. Each partner has been specifically sought out for being experts in their chosen fields whilst sharing Knight Frank’s vision for being the very best at what they do; all in service to provide clients with tailored solutions to achieve best possible outcomes.
Cresa is the world’s leading occupier-only commercial real estate adviser headquartered in Chicago, Douglas Elliman is one of the US’ largest independent residential real estate brokerages and Berkadia is a commercial real estate industry leader providing a range of services to multifamily and commercial property clients.