In its latest move to expand its valuation and advisory (V&A) practice, Newmark Group has acquired the assets of HVS, Inc., which operates under the name Hopkins Appraisal Services, a specialist in the valuation of restaurants and retail petroleum facilities.
Hopkins, headquartered in Overland Park, Kansas, with a professional workforce of nearly 40 employees, has been a dedicated multi-unit retail specialist for approximately 45 years. The firm has valued more than 100,000 gas stations and restaurants in the United States and Canada.
“The acquisition rounds out our suite of highly specialized verticals, positioning NKF Valuation & Advisory as a preeminent asset class specialist. Hopkins is a recognized leader in restaurant and retail petroleum valuation space,” said John Busi, president of NKF Valuation & Advisory. “As our company continues to transform to a data-driven, expert-based, professional services firm, we were also attracted to the deep retail database that Hopkins brings to NKF.”
Through a combination of hiring and acquisitions, V&A has increased its headcount by over 500 in the past three years to more than 525 employees. Hopkins President David Hatutian and COO Brock Rule will lead the new Restaurant/Retail Petroleum Specialty Practice, combining both business and real estate expertise to perform valuations of tangible and intangible multi-unit retail assets.