Newmark Expects Wave Of Deals Before More Rate Hikes
Here out celebrating their 10th anniversary in business in Seattle: Newmark execs Michael Taylor, Michael Heagerty and Hans Siebert.
Since opening its Seattle regional HQ in 2006, Newmark’s Pacific Northwest operation has been responsible for placing more than $3.3B of commercial mortgages across 278 individual loans, and was on track to generate more than $421M of new production from two offices (Seattle and Spokane) in 2016.
Looking ahead, Taylor told us "as interest rates continue to rise moving into the new year, we expect to see a wave of investors seeking to lock in favorable rates in the first half of 2017. Here in Seattle, with so much new construction, we'll see completed projects looking to stabilize with long-term debt and permanent financing as the year progresses.”