Landmark Addition of Advisors with $100B in Closed Transactions Furthers Company
Trajectory Toward Top Multifamily Capital Markets Provider in the
Country
NEW
YORK, March 5, 2025 /PRNewswire/ --
Newmark Group, Inc. (Nasdaq: NMRK)
("Newmark" or "the Company"), a leading commercial real
estate advisor and service provider to large institutional
investors, global corporations, and other owners and
occupiers, announces the hiring of
market-leading multifamily advisors Joseph
Smolen, Geoff Boler,
Will Purcell, Jonathan Merhaut, Lee
Redmond, Eve Loecher and
Eugene Chong to join its Capital
Markets practice. Smolen and Boler, joining as Executive Vice
Chairmen, are known nationally as leading multifamily advisors
attached to some of the most significant sales in the country. The
two join the Company to take on leadership roles within Newmark's
multifamily business and serve on its Multifamily Advisory Council.
Purcell and Merhaut join as Vice Chairmen, Lee Redmond joins as a Vice Chairman focused on
multifamily financing and Eve
Loecher and Eugene Chong join
as Senior Managing Directors.
Smolen, Boler, Purcell and Merhaut bring a track record of
dominance in both the Western U.S. and on national portfolio sales,
with more than $100 billion in closed
transactions between them. Over the last seven years, they have
been responsible for more than 90% of multifamily sales in the
Western U.S. with a transaction size of at least $300 million, including market-moving sales such
as the $925 million sale of Westlake
Village Apartments in the Bay Area, Kiara in Seattle, Kapilina Apartments on Oahu, and the Park 12 in San Diego. They have also helped lead many of
the most important portfolio sales and recapitalizations across the
country.
"Newmark has consistently invested in building the nation's
leading Multifamily Capital Markets provider, and these additions
further strengthen our position," said Barry Gosin, Chief Executive Officer.
"Multifamily is one of the most dynamic property types, and by
continually expanding our expertise and global reach, we enhance
our ability to deliver exceptional advisory and results for our
clients."
The seven veterans join from Eastdil Secured. Smolen, Purcell
and Loecher will be based in Newmark's San Francisco office, while Boler, Merhaut,
Redmond and Chong will be based in Orange County.
"These individuals bring an incredible level of professionalism,
esteem and accomplishment to our company," said Chad Lavender, President of Capital Markets for
North America. "Advisors of this
level deciding to join Newmark is an endorsement of the momentum
and talent we've built."
Newmark's strategic investments in Capital Markets and
Multifamily propelled the firm to a third-place ranking in
Multifamily sales volume in 2024[1], with further growth planned.
The firm has recruited leading multifamily debt originators over
the past several months, added investment sales advisor
Dean Zander in Century City and has made strategic hires
including the nation's leading affordable housing advisory
team.
"Newmark's momentum in the marketplace presents a unique
opportunity to expand our impact," said Smolen. "The company's
values of client-first, tailored service, innovation and integrity
provide the perfect foundation for us to continue to grow and
thrive."
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK),
together with its subsidiaries ("Newmark"), is a world leader in
commercial real estate, seamlessly powering every phase of the
property life cycle. Newmark's comprehensive suite of services and
products is uniquely tailored to each client, from owners to
occupiers, investors to founders, and startups to blue-chip
companies. Combining the platform's global reach with market
intelligence in both established and emerging property markets,
Newmark provides superior service to clients across the industry
spectrum. For the twelve months ended December 31, 2024, Newmark generated revenues of
over $2.7 billion. As of December 31, 2024, Newmark and our business
partners together operated from approximately 170 offices with more
than 8,000 professionals across four continents. To learn more,
visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements about
Newmark
Statements in this document regarding Newmark that
are not historical facts are "forward-looking statements" that
involve risks and uncertainties, which could cause actual results
to differ from those contained in the forward-looking statements.
These include statements about the Company's business, results,
financial position, liquidity, and outlook, which may constitute
forward-looking statements and are subject to the risk that the
actual impact may differ, possibly materially, from what is
currently expected. Except as required by law, Newmark undertakes
no obligation to update any forward-looking statements. For a
discussion of additional risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements, see Newmark's Securities and Exchange
Commission filings, including, but not limited to, the risk factors
and Special Note on Forward-Looking Information set forth in these
filings and any updates to such risk factors and Special Note on
Forward-Looking Information contained in subsequent reports on Form
10-K, Form 10-Q or Form 8-K.
1 Real Estate Alert
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SOURCE Newmark Group, Inc.
