Newmark Grubb Parent Launching Non-Traded REIT into Evolving Market
Cantor Fitzgerald’s Rodin Global Property Trust to Focus on Single-Tenant, Net Leased
October 19, 2016 | By Mark Heschmeyer | CoStar
While the non-traded REIT sector has been struggling of late, the parent of Newmark Grubb Knight Frank is jumping into the turbulent business by sponsoring its first such offering.
Cantor Fitzgerald said it will launch Rodin Global Property Trust, a new non-traded REIT that aims to raise up to $1 billion to invest in single-tenant, net leased commercial properties in the U.S., U.K. and other European countries.
Cantor has a diversified business with interests ranging from Wall Street to real estate services and financing. Its real estate brokerage and finance business principally consists of Newmark Grubb Knight Frank and Cantor Commercial Real Estate (CCRE).
Michael Lehrman, a former Credit Suisse managing director who is the global head of real estate for Cantor Fitzgerald affiliate BGC Partners, as well as vice chairman and co-founder of Cantor Commercial Real Estate (CCRE) and executive managing director of Cantor Fitzgerald, was named chairman and CEO of Rodin Global. Lehrman was also involved in Newmark Knight Frank’s acquisition and integration of Grubb & Ellis. NGKF will provide deal sourcing and brokerage services to Rodin Global Property Trust.
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