Milestone hires reflect the Company's continued trajectory to
become the most sought-after capital markets firm in the world
NEW
YORK, Feb. 15, 2023 /PRNewswire/
-- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the
Company"), a leading full-service commercial real estate
business, announced that Douglas
Harmon and Adam Spies and
members of their industry-leading team have joined the Company.
Harmon and Spies will serve as Co-Heads of U.S. Capital Markets for
Newmark's Capital Markets group. As partners for over 20 years,
Harmon and Spies are known nationally as the top capital markets
leaders, executing some of the most prominent office and
residential sales across the country.
Top hires reflect the Company's continued
trajectory to become the most sought-after capital markets firm in
the world
"Doug, Adam and members of their long-tenured team joining is a
testament to the growth of our platform," said Barry Gosin, Newmark Chief Executive Officer.
"Our Capital Markets advisory business has seen dramatic growth.
These hires are expected to amplify Newmark's strength, upwards
trajectory and momentum to become the most trusted and sought-after
capital markets firm in the world for both producers and clients.
Historically, our investment sales and debt businesses have had a
multiplier effect, which drives outsized growth across the Company.
We aim to attract and retain the most gifted professionals in every
vertical and are hyper-focused on empowering those at the top of
their game to continue to provide the best services and the
delivery of alpha for their clients in every way."
The hire of this high-profile sales team underscores the success
of Newmark's growing foothold in capital markets through organic
productivity growth, acquisitions, and hires across our
increasingly global footprint. Since Newmark's IPO in 2017, the
Company has continued to gain market share in capital markets. We
generated $155 billion of overall
investment sales and debt transactions over the trailing twelve
months ended September 30, 2022,
which was up 194% compared with 2017. Comparatively and over the
same time period, RCA U.S. investment sales and the MBA
Commercial/Multifamily Origination Index were up by 94% and 54%,
respectively. i
Harmon and Spies will serve alongside Newmark's current Co-Heads
of U.S. Capital Markets, Kevin
Shannon and Robert Griffin,
reporting directly to Gosin.
"Doug and Adam represent exceptional and talented additions to
our team," says Robert Griffin,
Newmark's Co-Head of U.S. Capital Markets. "Having professionals
with such impressive track records join Newmark is a testament to
our growth trajectory and the talent we've amassed in our Capital
Markets group. I'm excited to see this practice reach ever greater
heights."
"We've attracted one of the world's preeminent capital markets
teams—with a stellar 20-year track record—to Newmark's headquarters
in the capital markets center of the world: New York City," said Kevin Shannon, Newmark's Co-Head of U.S. Capital
Markets. "Professionals of this caliber continuing to place
confidence in the Newmark vision is an incredible endorsement of
our firm's excellence in investment sales and debt, one the entire
Newmark team can be proud of."
Harmon, Spies and their team have been involved in most of the
world's largest, highest-profile and record-setting transactions
over the last three decades. Harmon and Spies led a team that
ranked #1 in capital markets in New
York for 2022, closing nearly $5.7
billion2Fii notable transactions for the
year, including the $487.5 million
sale of multifamily asset 19 Dutch Street and the $850 million sale of the American Copper
Buildings. Harmon and Spies advised the sale of the largest office,
multifamily and industrial transactions in New York City in the last five years—1
Manhattan West at $2.85 billion,
Spring Creek Towers at $1.84 billion and 640 Columbia Street at
$330 million, respectively—as well as
the $2.4 billion sale of Chelsea Market, one of the largest multi-use
building sales in New York City
history.
With a career trajectory spanning almost four decades, Harmon is
widely recognized as one of the most creative, influential and
respected dealmakers in the real estate industry, having completed
transactions totaling over $250
billion in value since 1997. Harmon is also the current
record holder for several of the highest dollar-per-square-foot
sales ever achieved across multiple asset classes. Spies, also a
prolific dealmaker, joined Eastdil Secured in 1999, where he became
a leading player in the New York
investment sales market alongside Harmon. Spies and Harmon grew
into the firm's top rainmakers before moving to Cushman &
Wakefield, where they served for the last six years as Chairmen of
Capital Markets.
"The deepest bench of commercial real estate talent, across
nearly every asset class and business vertical, is at Newmark right
now," said Spies. Harmon added, "In this market, as the industry
moves towards planning for the short-term, Newmark remains
well-positioned to press forward on its long-term vision as the
industry leader. We are excited to start this new chapter and are
committed to stamping an indelible mark on the industry."
The addition of Harmon, Spies and their team is expected to
bolster Newmark's standing, which is already #2 in office,
apartment and cross-border capital markets brokerage and #3 in
deals over $25 million
iii, #1 in alternative real estate asset
transactions—seniors housing, student housing, self storage and
medical office.iv The firm is a Top-5 GSE
(government-sponsored enterprises) lender.v
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. Newmark generated revenues of approximately
$3.1 billion for the twelve months
ending September 30, 2022. Newmark's
company-owned offices, together with its business partners, operate
from approximately 180 offices with nearly 6,700 professionals
around the world. 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 effects of the COVID-19 pandemic
on 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.
i MSCI, Inc. Real Capital Analytics and
Mortgage Bankers Association
ii According to
MSCI, Inc.
iii According to MSCI, Inc. full
year U.S. 2022 preliminary data as of January 2023.
iv According
to analysis of MSCI, Inc data, for full year U.S.
2022
v Fannie Mae Top 5 Multifamily Delegated
Underwriting & Servicing Lender for 2022
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SOURCE Newmark Group, Inc.