Newmark Knight Frank Devencore Establishes Partnership with CITI Commercial in Calgary

MONTREAL, QUEBEC--(Marketwire - June 1, 2011) - Newmark Knight Frank Devencore, Canada's largest corporate real estate advisor and brokerage representing corporate, industrial and retail space users, announced today that it has entered into a partnership with CITI Commercial in Calgary, whereby CITI Commercial will join Newmark Knight Frank Devencore, effective immediately. The partnership strengthens Newmark Knight Frank Devencore's presence in the Calgary and Alberta commercial real estate markets, and provides CITI Commercial with tremendous growth opportunities as a part of Newmark Knight Frank Devencore's extensive global network.

"We are very pleased to have entered into this partnership," said Jean Laurin, President and CEO of Newmark Knight Frank Devencore. "They are an important player and have been very active in the Alberta market; they have also spearheaded major real estate negotiations and transactions in the energy, financial, technology and service sectors. Moreover, the company's president, Agron Miloti, has been in the business for 26 years and has built the firm from the ground up. We are extremely impressed by his accomplishments, his vision, his determination and by the team he has developed. Together, we have a real opportunity to develop our service offering and client base across the country and indeed globally. Our goal is to become one of the top service providers in the world. We look forward to a very strong relationship where our clients will be the main beneficiaries."

Established in 1999, Calgary-based CITI Commercial was an independent real estate company providing a complete range of commercial real estate services. It has extensive operations in the areas of leasing (office, retail, & industrial) and investment sales.

"We are delighted to be joining Newmark Knight Frank Devencore, which has built an unmatched reputation in Canada and around the world for providing best-in-class real estate services," said Agron Miloti. "We share a strong commitment to tenant representation, and our objective is to accelerate our growth by leveraging Newmark Knight Frank Devencore's leading market presence in all of the world's major metropolitan centres."

About Newmark Knight Frank Devencore

Devencore is the Canadian partner of Newmark Knight Frank, one of the largest real estate service firms in the world. Newmark Knight Frank Devencore is Canada's largest corporate real estate advisor and brokerage exclusively representing corporate, industrial and retail space users. With offices across Canada, Newmark Knight Frank Devencore offers its global clientele comprehensive services that are individually designed to ensure executive real estate decisions are supported by effective strategies and professional execution.

Headquartered in New York, Newmark Knight Frank and London-based partner Knight Frank operate from over 220 offices in established and emerging property markets on six continents. With a combined staff of 7,300 and revenues last year exceeding $861 million, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide.