MKRS: Massey Knakal joins merger merry-go-round

The merger wave has officially gripped commercial real estate, as Massey Knakal became the fourth New York brokerage to be bought by a larger rival this year. On Monday, Cushman & Wakefield announced that it signed an agreement to take over Massey Knakal for a reported $100 million. The deal is part of a veritable merger boom among commercial real estate brokerages. In September, private equity firm TPG Capital signed a deal to acquire Cassidy Turley and merge it with Texas-based brokerage DTZ. Earlier this year London-based Savills acquired the New York firm Studley, forming Savills Studley. Market leader CBRE is currently in talks to acquire retail brokerage RKF.