Firm expands its presence in the multifamily and alternative real estate sectors
Newmark, a commercial real estate company based in New York, has formed a single-family rental (SFR) group as part of its multifamily capital markets group.
The SFR group – focused on investment sales, programmatic joint-venture equity placement, and debt and structured finance – will execute assignments in conjunction with the multifamily capital markets division. Newmark tapped Chad Lavender and Ryan Maconachy to lead the SFR group as vice chairmen. Directors Leland Manning and Josh Francis will also oversee the firm’s efforts in the SFR space.
“With Newmark’s significant presence in the multifamily and alternative real estate sectors, and a growing institutional interest in the SFR space, formalizing this practice was a logical next step as we continue to enhance our full-service capital markets offerings to our clients,” Lavender said.
“With increased rental housing demand, renters are seeking more space and the privacy of a detached home without the demands of a mortgage, especially considering interest rate increases,” Manning added. “This, in combination with the rise in SFR-earmarked capital, underscores the expectation that SFR supply will increase in coming years.”
“Since joining Newmark in 2019, our group has participated in transactions totaling more than $15 billion. We have partnered with institutional groups to build their alternative asset platforms through three primary areas of expertise: joint-venture equity, investment sales and debt and structured finance,” said Maconachy. “Additionally, Newmark’s Multifamily investment sales and debt business have generated over $87 billion transactions since 2021. We understand the alternative asset and multifamily landscapes and what it takes to assist clients in expanding their portfolios within the SFR space.”