Newmark Poaches Eastdil Team For Hotel Capital Markets Group
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.