CUSHMAN & WAKEFIELD COMPLETES ACQUISITION OF MASSEY KNAKAL

Cushman & Wakefield, the global real estate services
firm, announced today the successful completion of its acquisition of Massey Knakal
Realty Services, New York’s No. 1 Investment Sales firm (based on number of
transactions) for more than a decade. The acquisition significantly enhances Cushman &
Wakefield’s Capital Markets presence in the New York Tri-State region.

“Today marks an important milestone for both of our firms,” said Ed Forst, President &
CEO of Cushman & Wakefield. “We are combining two exceptional organizations to
provide our clients with the most innovative and creative solutions to drive meaningful
results. We’re extremely excited to welcome the Massey Knakal team, and believe that
this partnership will undoubtedly be the start of an exciting new chapter for us in New
York and around the world. Together we’re poised to bring Cushman & Wakefield to
new heights in the year ahead.”

Paul Massey

Paul J. Massey Jr., President, New York Investment Sales commented, “We have great
respect for Cushman & Wakefield, and the strong business that management and its
employees operate, not only in New York but around the world. We are thrilled to be
bringing our superior local expertise and market knowledge to one of the most respected
global commercial real estate service brands. The combined company is now positioned
to seize important new growth opportunities and provide a broader service offering for
clients.”

Bob Knakal

Massey Knakal Realty Services was founded by Paul J. Massey Jr. and Robert A. Knakal
in 1988. With over 200 employees serving more than 200,000 property owners in New
York City’s five boroughs, Westchester County, Long Island and New Jersey, the firm is
best known for dominating the market for midsized office, retail and multi-family
building sales. Since 1988, Massey Knakal has closed more than 6,000 transactions, with
a market value in excess of $23 billion.

Cushman & Wakefield was advised in the acquisition process by Goldman, Sachs & Co.
Massey Knakal was advised by Perella Weinberg Partners LP.

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