Firestone, Bringing 25 Years of Experience, Joins Newmark's Los
Angeles Office, Furthering Newmark's Talent Expansion and
Unification Strategy.
NEW
YORK, Feb. 1, 2024 /PRNewswire/ -- Newmark
Group, Inc. (Nasdaq: NMRK) ("Newmark"), a leading commercial real
estate advisor and service provider to large institutional
investors, global corporations, and other owners and occupiers,
announces the hiring of Jonathan
Firestone as Co-President, Global Debt &
Structured Finance. Firestone will run Newmark's debt platform
alongside Co-President, Global Debt & Structured Finance
Jordan Roeschlaub.
Based in Los Angeles, Firestone
joins Newmark from Eastdil Secured after 23 years, where he was
instrumental in building its debt, structured finance and loan sale
businesses, having served as a Managing Director and a member of
its management committee. As one of the most influential
institutional finance professionals in the industry, Firestone
hired, trained and mentored some of the most respected debt
professionals in the country. He has executed $175 billion of financing and loan sale
transactions over his career, encompassing some of the most
prominent and high-profile assets on behalf of top-tier
institutional sponsors. Firestone and Roeschlaub will work in
partnership with the entire capital markets team, including debt,
equity and structured finance advisors, and our investment sales
professionals throughout the country to advance our full suite of
owner/occupier services.
"We've assembled a best-in-class real estate investment banking
and advisory business for the next chapter in client services with
the broadest international reach and influence, the best and the
brightest professionals in all disciplines and the
highest-performing Capital Markets platform," said Barry Gosin, Newmark's Chief Executive Officer.
"Firestone is a generational talent who will work with Newmark's
top-tier professionals across our full-service platform to embrace
change and growth. Newmark continues to advance by widening its
reach and broadening its expertise, with a focus on providing
market-leading service to its clients."
Chad Lavender, Newmark's
President of Capital Markets for North
America, added, "The debt and equity platform will work as a
team across Capital Markets as a single collaborative organization,
with Newmark's expanded capabilities to advise clients
holistically, an approach that sets us apart from our peers."
"The lines between debt and equity are becoming increasingly
blurred as the market continues to face headwinds, and asset sales
are often being driven by lenders with loan sales, rescue equity
and workout transactions becoming a larger portion of the market,"
said Doug Harmon, Co-Head of U.S.
Capital Markets. "Having worked with Firestone before, I am well
acquainted with his institutional prowess; he will integrate
seamlessly with our New York-based
team and senior capital markets executives across the U.S. to play
a crucial role in expanding our client service across equity, debt
and loan sales, facilitating the best advice and execution in all
major markets, across all property types and transaction
forms."
On the heels of Newmark's high-profile role as financial advisor
to the FDIC in connection with its receivership disposition of
approximately $60 billion Signature Bridge Bank loan portfolio
assignment1, Firestone said, "What an amazing time
to join forces with a structured finance and loan sale
leader in commercial real estate. I am excited to bring my
years of experience and transaction history to collaborate and
materially grow this important business line."
Roeschlaub, who will serve alongside Firestone as Co-Head of
Global Debt and Structured Finance, is based in New York and covers a wide range of
institutional clients across national deal activity and large
portfolio executions. During their time at Newmark, Roeschlaub and
Dustin Stolly (who will
continue as part of the broader group leadership) have been
instrumental in Newmark completing over $150
billion of debt placement and mortgage
brokerage2.
"Of utmost importance to Newmark is to put our client's goals
and objectives first and deliver the best execution available in
the capital markets. This unification strategy will ensure our
clients have the best deal teams specialized to execute any
transaction," stated Roeschlaub. "For over seven years, we have
consistently expanded our presence to match the needs of our
clients. Jonathan has been recognized and revered as the top debt
advisor on the West Coast for the last 15 years. With a track
record of financing some of the most noteworthy assets nationally,
his addition further validates our commitment to thoughtfully
building out our best-in-class team in a way that aligns clients'
needs and expectations."
As part of Newmark's unification strategy, Firestone and
Roeschlaub will collaborate with Co-Heads of U.S. Capital Markets
Doug Harmon, Adam Spies,
Kevin Shannon and Rob Griffin, who lead the Company's national
investment sales teams, as well as with Shannon's Southern California team and Executive Vice
Chairman and President, Western Region Capital Markets Steve Golubchik and his Northern California team. As Co-heads of the
debt platform, the duo will oversee Newmark's other debt
professionals, including West Coast's Ramsey Daya, Bill
Fishel and David Milestone, and New York partners, Dustin Stolly, Nick
Scribani and Chris
Kramer, further elevating the platform's unmatched expertise
coast-to-coast.
"I am thrilled to join Newmark and partner with Jordan, Dustin
and the wider group to formally establish its national and global
debt platform. Working closely with Newmark's professionals and
their teams, many of whom I have had the privilege of working with
previously for over a decade, we aim to build the most revered
one-stop-shop capital markets practice," said Firestone.
Firestone's announcement follows on the heels of Newmark's
hiring of a significant number of the industry's top professionals
in 2023, adding specialists across an array of asset classes and
transactional segments. For example, Newmark announced that Harmon
and Spies would serve as Co-Heads of U.S. Capital Markets in
February. In March, the Company announced it had hired Jack Fraker as President, Global Head of
Industrial & Logistics Capital Markets. In August, Newmark
announced the hiring of investment banker Brent Mayo to lead the firm's Data Center and
Digital Infrastructure Group. In November, the Company hired
Andrew Warin, a real estate
investment banker with previous stints at Citigroup and Sera
Global, to head Newmark's Strategic Advisory and Programmatic
Equity Practice.
Gosin concluded, "Our strategic vision is to establish ourselves
as the leading global Capital Markets firm. We are committed to
providing our clients with the best information, the most talented
professionals, cutting-edge technology and unparalleled results.
Together, we will achieve excellence in every aspect of our
business."
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 year ending December
31, 2022, Newmark generated revenues of approximately
$2.7 billion. As of September 30, 2023, Newmark's company-owned
offices, together with its business partners, operate from
approximately 170 offices with 7,400 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.
1 For more information, please see various
announcements, press releases, and other information on the FDIC
website, including "FDIC Announces Upcoming Sale of the Loan
Portfolio from the Former Signature Bank, New York, New York", "SIGF-23
Sale Announcement $18.5 Billion All
Cash Loan Sale", "SIGCRE-23 Sale Announcement
$33.22 Billion Commercial Real Estate
Loan Portfolio", "FDIC Signature Bank Receivership
Sells 20 Percent Equity Interest in Entity Holding $9 Billion Rent-Stabilized / Rent-Controlled
Multifamily Loans", "FDIC Signature Bridge Bank
Receivership Sells Five Percent Equity Interest in Entities Holding
$5.8 Billion of Rent-Stabilized /
Rent-Controlled Multifamily Loans", and "FDIC
Signature Bridge Bank Receivership Sells 20 Percent Equity Interest
in Entity Holding $16.8 Billion of
Commercial Real Estate Loans".
2 Newmark mortgage brokerage volume from 2015
through 3Q23; Roeschlaub joined in 2014 and Stolly joined in
2017.
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SOURCE Newmark Group, Inc.