LOS ANGELES, CA - Newmark Grubb Knight Frank (NGKF) has made major brokerage industry news, bringing on Curtis Palmer, one of the multihousing industry’s leading investment sales performers, as executive managing director to lead ARA, A Newmark Company’s (ARA Newmark) expansion in Southern California.
Palmer brings a substantial track record in multihousing investment to ARA Newmark, having recently served as executive vice president, institutional properties multihousing, with CBRE. Some of his recent multi-million dollar multihousing transactions include:
$300 million sale of Palazzo Westwood Village, a Class A, 350-unit apartment property located at 1060 Glendon Avenue in Los Angeles, to Clarion Partners. Palmer represented the sellers CPP and Casden Properties.
$200 million sale of 8th+Hope, a 22-story, Class A+ apartment tower in downtown Los Angeles, to Essex Property Trust. Palmer represented the sellers, Wood Partners and CBRE Wood Partners Development Fund 3.
$193 million sale of the Alliance Residential Southern California portfolio, including two apartment properties totaling 399 units, to Sequoia Equities and Invesco. Palmer represented the seller Alliance Residential.
NGKF President James D. Kuhn said, “Curtis is a significant addition to our Southern California platform. He brings an outstanding track record and extensive relationships with the dominant players in multihousing. A recognized leader and top performer, Curtis will play a substantial role in our expansion on the West Coast, further extending ARA’s national reach.” Palmer’s addition follows two other high profile hires to ARA Newmark, Al Cissel from JLL in Washington, DC and Ryan Lang from CBRE in Student Housing. ARA Newmark executed nearly $13 billion in multihousing transactions in 2014.
Prior to joining CBRE in 2013, Palmer was a founding Partner of Multi-Housing Capital Advisors (MHCA). Since 2009, MHCA has sold, financed and equitized $2 billion in apartment and office product. Palmer has also held senior positions with firms such as Transwestern and Insignia/ESG. In total, Palmer’s career record amounts to more than $25 billion of multihousing transactions, including sales and debt and equity financing.
Palmer will join the Los Angeles office to lead multihousing investment in Southern California, representing clients in the sale of institutional quality apartment properties throughout the Western United States.
“NGKF is driven by an exciting, entrepreneurial culture and that is exactly what I am looking for at this point in my career,” said Palmer. “I look forward to the opportunity to build the ARA Newmark name on the West Coast with the NGKF and ARA Newmark leadership and team. We have the opportunity to grow a dominant service platform at a great time in the cycle.”
“We are expanding our Southern California team with a strong group of industry leaders. Curtis is the perfect addition to the team and will help us move NGKF to the next level,” said Greg May, regional managing director, NGKF.
Palmer has built a well-respected reputation as a top producer for his work handling the sales of institutional-quality apartment properties, along with his expertise in providing investment sales, debt and equity financing services on behalf of owners, developers, banks and institutions. His notable client work has included: AEW, AIG Global Real Estate, Alliance Residential, Archstone-Smith, Blackstone, BRE Property Trust, Equity Residential, Goldman Sachs, Morgan Stanley, NY Life and Prudential.
About ARA, A Newmark Company: ARA, A Newmark Company is the largest full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA Newmark is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA Newmark’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. This combination of global resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in an annual production volume of more than $12.4 billion in real estate transactions in 2014. For detailed information on ARA Newmark’s extensive multihousing investment services, visit www.aranewmark.com.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF's 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF's strong foundation makes it one of the most trusted names in commercial real estate. NGKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com