Jacksonville Beach-based Walchle Lear Multifamily Advisors has been bought out by national commercial real estate company Newmark Grubb Knight Frank. NGKF acquired the firm, which will do business as ARA Newmark, in order to further expand its national footprint in the multifamily sector. Bart Walchle and Steve Lear (the previous owners) and two other brokers, Tyler Nilsson and Erik Bjornson, will operate the Jacksonville office of ARA Newmark. ARA Newmark already has offices in Orlando, Tampa and South Florida.
“Florida is a significant market for multihousing investment,” stated Blake Okland, vice chairman and head of US multifamily for ARA Newmark. “Bart, Steve and their team are deeply entrenched in Florida’s multihousing market and their expertise will bolster ARA Newmark’s and NGKF’s presence in the region.”
