NEW YORK and PARIS, March 11,
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 it has established a
Paris, France flagship, hiring
industry veterans Francois Blin and Emmanuel Frénot to lead
the team. As the latest milestone in Newmark's continued global
expansion, the Paris office, which
officially opens today, March 11,
2024, will initially focus on Capital Markets and Leasing
and is located at 32 Boulevard Haussmann 75009 Paris in the 9th
arrondissement, home to some of Paris' most iconic landmarks, including the
Opera Garnier and the famous Grands Magasins. Reinforcing Newmark's
reputation for industry-leading talent, the launch of the
Paris office has attracted several
of Paris' top commercial real
estate professionals to debut its market foothold:
- Francois Blin and Emmanuel Frénot join from JLL
and CBRE as Chief Business Officer and Deputy Chief Business
Officer, respectively, to lead the Paris team and to focus on Capital
Markets.
- Antoine Salmon and
Vianney d'Ersu, Co-Heads Retail Leasing, join from Knight
Frank to spearhead Retail operations. Additionally, retail
specialists Sarah Aghion,
Alexandre Lechat, Louis Combet and Clara
Leclerc will join to work alongside Salmon and d'Ersu.
- Jérôme De Laboulaye, Managing Director, joins from CBRE
Capital Markets France to contribute to and build Newmark's Capital
Markets Office practice.
- Nicolas Coutant will join
from JLL to contribute to and assist in building various business
lines.
- David Bourla, Head of
Research, joins from Knight Frank to head all French research
initiatives at Newmark, providing data-driven market insights and
high-end economic analysis and surveys in support of clients and
brokerage professionals.
- Alexandre Gotti,
Newmark's President of France,
will oversee operations, strategic direction, growth and
recruiting, assisting in developing Newmark's footprint in
France and Europe.
"Newmark continues to broaden its reach and evolve with the
industry's demands and our clients' needs, and our expansion into
France with the amalgamation of
such an impressive team is a significant milestone in our growth
strategy and presents yet another opportunity to generate
outstanding results," said Chief Executive Officer Barry Gosin. "We look forward to continuing
to grow our European footprint and attracting top talent across the
globe as we further increase revenues across our diverse
geographies and service lines."
Bringing more than a half-century of combined experience, these
top hires will establish a robust and fully operational presence in
the French market underpinned by market-leading research and
Newmark's global services and reach across multiple sectors.
Newmark expects the addition of this team to bolster its ability to
provide best-in-class service to clients around the world who seek
to diversify their investments by geography and property type.
"If you are exceptional, Newmark is where you belong. Our
continued expansion in the European market is driven by our
commitment to excellence for our clients. Our goal is to establish
ourselves as the go-to market leader in France, built by industry market-makers,"
continued Gosin. "The Company is bridging the gap between
major financial cities, uniting undeniable talent from major real
estate markets around the world, including New York, Los
Angeles, London, and now
Paris. As we continue to onboard
talented professionals in these and other locations, we have
unwavering confidence in Newmark's future."
As a major European financial and economic center, Paris attracts a wide range of domestic and
international businesses and investors seeking long-term value and
stability. The city's strategic location, excellent infrastructure,
diverse range of commercial real estate opportunities and strong
connectivity make it an attractive destination for local, regional
and global companies. France has
consistently maintained its status as a prime real estate market,
with a recent surge in demand for logistics and warehousing spaces,
and in Paris, residential and
office assets in prime locations. Overall, the market is expected
to rebound as economic conditions gradually improve.
As the commercial real estate firm with the best long-term
growth rate in the industryi, Newmark continues to
invest in elevating its platform's capabilities and infrastructure,
underpinned by the recruitment and retention of industry-leading
talent across geographies and verticals within the real estate
spectrum, strategic leadership appointments in leasing, capital
markets and multifamily and entrances into new sectors throughout
2023. Additionally, with the recent hires of Matthew Featherstone and Jonathan Firestone to lead Debt and Structured
Finance in the UK and US, respectively, Newmark continues to
prioritize its unification strategy to build a comprehensive
platform of owner/occupier services globally.
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, 2023, Newmark generated revenues of approximately
$2.5 billion. Newmark's company-owned
offices, together with its business partners, operated 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 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 Newmark generated faster revenue growth than
any of its publicly traded competitors from 2011 to 2022, the last
fiscal year for which data is available for the entire group.
Newmark's 2011 revenues are based on unaudited full year 2011
revenues for Newmark & Company Real Estate, Inc., ("Newmark
& Co.") while 2012 is based on the Real Estate Services segment
of the Company's former parent, BGC Partners, Inc. ("BGC"), which
acquired Newmark & Co. in 2011, IPOed the Company in 2017, and
spun Newmark off in 2018. The peers included in the 2011-2022
average are US tickers CBRE, CIGI, JLL, MMI, and WD, and UK ticker
symbol SVS (in GBP). These companies generated total revenue CAGRs
of between 7% and 21% from 2011 through 2022, or a simple average
of 15%. Only some of these peers reported fee revenues during this
timeframe. In addition, US ticker CWK did not report revenues for
periods before 2015 and is therefore excluded. For some years, the
impact of FASB topic ASC 606 increased GAAP revenues for Newmark
and certain peers.
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