Newmark Poaches Eastdil Team For Hotel Capital Markets Group

The Waldorf Astoria In New York City

Newmark Group lured a group of managing directors from rival brokerage Eastdil Secured to run its hotel capital markets group in one of its first major poaches since it went public late last year.

A team that includes Adam Etra, Mark Schoenholtz, Lawrence Wolfe and Miles Spencer is making the jump, the Wall Street Journal reports. The team had worked as a senior hotel sales and financing team at Eastdil, and most notably brokered Anbang Insurance’s $1.95B purchase of the Waldorf Astoria in 2015.

“The pipeline is pretty full in terms of acquisitions,” Newmark CEO Barry Gosin told the WSJ. “We’re aggressive in pursuit of growth.”

In 2016, Eastdil suffered a major blow when it lost top investment sales team Douglas Harmon and Adam Spies to Cushman & Wakefield. Dustin Stolly left JLL last year after a decade at the firm to become the vice chairman and co-head of capital markets debt and structured finance at NKF before its initial public offering.

Switching firms “created an opportunity that was too good to pass up,” Schoenholtz told the Journal.

Last month, Bisnow spoke to several brokers who have jumped from one brokerage to another, including Stolly, who said he was drawn to the idea of taking on a new level of responsibility at NKF. He, former CCRE CEO Anthony Orso and the former Eastdil team lead an impressive roster of new hires for Gosin's newly public brokerage.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

NYC Office Investor Warns It Could Go Under As Defaults Pile Up

Sixty Beverly Hills Hotel Heads Back To Special Servicing

Controversial $18M Charlotte-Area Hotel Project Gets Rezoning Approval

Chetrit Group 'Being Dissolved' As Family Turmoil Spirals

Century 21 Retail Redevelopment Advances With New Financing, Leases: The N.Y. Deal Sheet

CGI Merchant Had A-Rod's Backing And A $650M Fund. Then It Bought Trump's D.C. Hotel And It All Fell Apart

Oceanwide Buyers Want Tax Incentives For 184-Room Hotel

Maturing Debt Triggers Wave Of Distressed Hotel Sales Across California

Bally's Debt Obligations Raise Doubts Over Casino Operator's Future

Tax Break Fight Threatens Development In Housing-Starved Long Island

Vornado, Related's Google-Anchored Office Building Faces 'Imminent Default'

KHP Sells West Hollywood Kimpton To Japanese Hotel Company For $63M