Newmark announces the addition of four notable experts in the institutional capital markets arena - Vice Chairmen Gary Carr, John Alvarado, Robert Hill and Chris Murphy. Specializing in office investment sales, Carr, Alvarado, Hill and Murphy boast combined office sales experience totaling in excess of $50 billion in transaction volume.
“Newmark’s exceptional growth in our U.S. Capital Markets platform, co-headed by Kevin Shannon and Rob Griffin, continues to strengthen as we welcome these market-leading professionals in Texas, one of the nation’s largest commercial real estate markets,” said Chief Executive Officer of Newmark Group, Inc. Barry M. Gosin. “The addition of these investment experts in a state in which capital markets volume is approaching coastal levels continues to expand Newmark’s footprint to allow us to best serve our clients.”
Texas markets accounted for just over 10 percent of both the number of transactions and dollar volume (roughly 2,927 transactions and $47.4 billion across all property types) of the nearly 29,000 U.S. capital markets transactions closed in 2019, trailing only New York and California.1
“It is very exciting to have this group of experts join Newmark’s capital markets platform. They will enhance the Newmark platform in the Texas and central region markets as well as nationally,” said Newmark Vice Chairman Chad Lavender, who, along with Ryan Maconachy, heads the firm’s Healthcare & Alternative Real Estate Assets practice.
“Newmark has had impressive momentum in the capital markets arena in both recruitment and market share and this is an exceptional opportunity to build a best-in-class office capital markets practice in Texas through the consolidation of top talent in the marketplace,” explained Carr.
Carr, Alvarado, and Hill join Newmark from CBRE, where Carr previously acted as vice chairman and Alvarado and Hill as senior vice presidents, specializing in office investment sales, along with providing market-leading services to single-tenant and sale-leaseback transactions for net-leased properties and portfolios. Murphy joins Newmark from Jones Lang Lasalle and its predecessor firm, HFF, where he acted as managing director with experience in all major property types and a specific focus on office investment sales.
“Becoming a part of Newmark’s continuing success and its anticipated additional growth is very exciting. The firm’s culture of excellence and collaboration, already evident among the highly respected producers who have recently joined Newmark around the country, was a huge draw,” added Alvarado.
“I have long respected Robert, John and Gary as competitors and look forward to the opportunity to work alongside them in expanding the Newmark brand in Texas and beyond,” added Murphy.
“This exceptional opportunity to join Newmark is tremendously exciting. The momentum that Newmark has experienced, the aggressive growth plans, and the quality of the people they have been able to bring in make this a rare and unique opportunity,” added Hill.
The four professionals will be based in the company’s Uptown Dallas office, located at 2515 McKinney Avenue.
Newmark’s Texas footprint has increased by more than 160 percent in six years, from 178 professionals to nearly 470. With the 2017 launch of the company’s Valuation & Advisory practice, the 2018 establishment of a Dallas tenant representation practice through the acquisition of Jackson Cooksey, and Newmark’s and E Smith Advisors’ affiliation in 2018, Newmark has made notable strategic advances to strengthen its Texas presence.
(1) RCA Year-End Trends Report, 2019
(2) Real Estate Alert, 2019
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 18,000 professionals operate from approximately 480 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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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. 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.