Newmark Group has expanded its European valuation and advisory business with the acquisition of Germany-based real estate appraisal firm L+P Immobilienbewertungs.
The Nasdaq-listed commercial real estate services provider acquired the business for an undisclosed sum.
Founded over 25 years ago, L+P provides full-service commercial, residential and specialised real estate valuation advice to institutional clients across Europe.
L+P, which employs a team of more than 40 professionals, will be integrated into Newmark’s valuation and advisory business within its investor solutions division.
The acquisition of L+P is Newmark’s fourth this year of a valuation and advisory firm, following its purchases of Catella Valuation Advisory in France, Altus Group’s Canadian appraisals business and PropTech platform Einwert in Germany.
John Busi, president, Newmark valuation and advisory, said: “L+P is an outstanding addition to Newmark and another important step in the expansion of our valuation and advisory business across Europe.
“As our fourth valuation and advisory acquisition this year, it further strengthens our ability to support clients with market-leading expertise, technology-enabled capabilities and a growing international platform.”
Marcus Lütgering, country head, Germany at Newmark, said: “The German market demands valuation expertise that combines technical rigor with decades of market experience.
“With L+P, we are adding a team that has been trusted for more than a quarter of a century to deliver precise, court-tested appraisals for investors, banks, fund initiators and public-sector clients. Together, we are further enhancing our ability to deliver greater value to investors, lenders and institutional clients.”
Helge Ludwig, founder of L+P, said: “Our focus always has been on delivering independent, reliable and high-quality valuation advice. Joining Newmark allows us to combine that expertise with an international platform and complementary technology capabilities.
“Together, we can deliver greater value to clients while creating new opportunities for our people.”
To read the latest IPE Real Assets magazine click here.
