BGC Partners buys Denver real-estate firm

Brokerage BGC Partners buys Denver commercial real-estate firm Frederick Ross Co.

Associated Press

NEW YORK (AP) -- BGC Partners brokerage said Wednesday that it bought Frederick Ross Co., a commercial real-estate firm in Denver for an undisclosed amount.

Frederick Ross will merge with Newmark Grubb Knight Frank, a real-estate advisory unit of BGC Partners Inc. Jack Box, CEO and President of Frederick Ross, will become chairman for the Denver region of Newmark.

Newmark Grubb Knight Frank is the product of two previous mergers. BGC bought Newmark Knight Frank in 2011 and Grubb & Ellis Co. in 2012 and folded the two companies together.

BGC also said Wednesday that it had acquired Smith Mack, a commercial real estate firm in Philadelphia.

BGC Partners shares rose 21 cents, or 6.1 percent, to $3.67 in afternoon trading. The stock has traded between $3.11 and $8.04 in the past 52 weeks.

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