To leverage rising multihousing sales volume across Alabama, Tennessee, Louisiana, Arkansas and Mississippi, ARA, A Newmark Company (ARA Newmark) extends its Mid-South presence by adding a Birmingham, Alabama, office - its 35th location nationally. Bo Flurry and Justin Uffinger join as senior managing directors to lead 360-degree investment advisory services from marketing single assets and portfolios to sourcing acquisition and development equity and financing.
“We see tremendous opportunity in secondary and tertiary markets with a population that increasingly seeks the inventory we are best suited to sell,” said Blake Okland, vice chairman, head of US multifamily for ARA Newmark. “Bo and Justin will enhance capital markets capabilities across Mid-South markets and leverage institutional connectivity across ARA Newmark and NGKF for a broader client base.”
Birmingham joins offices in Nashville and Memphis as sales volume across the five Mid-South states has risen 21.4 percent year-over-year to $5.2 billion. Since 2013, institutional clients have increasingly sought value-add opportunities in proven secondary and tertiary Southern markets.
Flurry is responsible for brokerage across the Southeast, particularly in the Gulf South markets. He has closed more than $1 billion in sales over his 14-year career. Prior to joining ARA Newmark, Flurry specialized in multihousing investment sales at Marcus & Millichap and at an Alabama-based firm. He earned a degree in finance from Louisiana State University.
Uffinger brings seven years of experience to his focus on Alabama and Tennessee brokerage for ARA Newmark. He has sold $750 million in multihousing assets since 2012 and also worked at Marcus & Millichap and at an Alabama-based firm prior to joining ARA Newmark. Uffinger earned an undergraduate degree at The University of Alabama and his MBA at The University of Alabama-Birmingham.
“We’ve partnered with ARA Newmark teams for years on deals across Mississippi and Alabama,” said Flurry. “Given the Mid-South’s growth trend and increasing interest from out-of-area and international buyers, opening the Birmingham office was an ideal opportunity to be part of the company’s capital markets integration, proven platform and global resources.”
About ARA, A Newmark Company
ARA, A Newmark Company (ARA Newmark) is the largest full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student, manufactured housing and multihousing land. ARA Newmark comprises the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA Newmark’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of global resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in an annual production volume of more than $13.7 billion in real estate transactions in 2015. For detailed information on ARA Newmark’s extensive multihousing investment services, visit www.aranewmark.com.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.