Newmark Group Update 02/16/24

Newmark Lands Leading National Affordable Housing Advisory Team

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 hired the team formerly with Affordable Housing Advisors (AHA) – a leading brokerage team and platform previously housed out of Marcus & Millichap. The team, which will operate as Newmark Affordable Housing Advisors, or NAHA, is led by Vice Chairmen and Co-Heads of Affordable Housing, Andrew Daitch, Steven Miscavish, Seth Barnett and Matthew Kurzmann, who will tap into Newmark's extensive resources while continuing to provide expert market knowledge and advisory services to clients in the affordable housing industry.

Founded in 1987, AHA was one of the first brokerage groups to specialize in affordable housing, establishing themselves as the U.S. industry leader. Now, the latest hire in Newmark's recent growth efforts brings the nation's preeminent affordable housing brokerage team to the platform, where they will continue to represent sellers and buyers of all property types and sizes within the affordable housing industry – including Section 8, Tax Credit, general partner interests and portfolios.


"This team has consistently proven to be the affordable housing brokerage leader nationwide for well over a quarter century, having closed more than $25 billion in affordable housing transactions, and we are thrilled to now have their deep knowledge and extensive sales prowess under the Newmark brand," said Chad Lavender, President of Capital Markets, North America. "We continue to attract the industry's best talent, no matter the sector, as we bolster and expand the Company's full-service client offerings. The addition of Andrew, Steven, Seth, Matthew and their team is a major step forward for our multifamily advisory business."

The head of the new NAHA team, Andrew Daitch, has over 25 years of experience representing buyers and sellers of affordable housing throughout the country, consistently ranking among the nation's top multifamily advisors. Under Daitch's leadership, AHA achieved significant success. Steven Miscavish has over 22 years of industry expertise and leads the underwriting team that reviews more than 1,500 affordable housing properties annually. Together with Miscavish and Daitch, industry veterans Barnett and Kurzmann will oversee transactions for the team. Barnett will continue to be responsible for sales in the Midwest, Mountain and Sunbelt regions while Kurzmann continues to lead New England, the Mid-Atlantic, and South-Atlantic regions. The team also includes Mason Campau, Ryan Moore, Ryan Warren, Neil Rosenthal, Jackson Ross, and Gerson Askenazy, based in Detroit; Nick Affronti and Jeremiah Jarmin, based in Phoenix; and Tyler Martin, based in San Diego.

"Joining Newmark will further our ability to deliver best-in-class results for our clients from coast to coast while leveraging the most diverse service offerings to buy and sell affordable housing," said Daitch. "By combining the expertise of our seasoned professionals with Newmark's multifamily capital markets experts and expansive platform, we believe that we are poised to achieve unparalleled success for our clients."

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