October 6, 2021 9:00 AM
星空体育app下载 Group, Inc. today announced the expansion of its Lodging Capital Markets Group with two new hires and the relocation of two 星空体育app下载 professionals. With these moves, the Group has established three new locations in California, South Florida and Texas. The new hires include Nick Pappas, a Senior Managing Director based in Los Angeles and Parker Sherrill, a Director based in Dallas. Lawrence Wolfe, one of four co-heads of 星空体育app下载鈥檚 Lodging Capital Markets Group, is relocating to Miami from New York City and Director Greg Morgan is relocating to Los Angeles from Washington, D.C.
With approximately $4.5 billion of hotel transactions currently under contract or in the market, this geographic expansion will further cement 星空体育app下载鈥檚 Lodging Capital Markets Group as one of the leading platforms nationally. The company鈥檚 recent transactions include arranging the sale of the Potomac Yards hotels in Washington, D.C.; the financing of the Edition West Hollywood and the recapitalization of the Graduate Hotel platform. The impressive collective career resume of 星空体育app下载鈥檚 hospitality professionals includes more than $250 billion of transactions, including some of the most high-profile lodging deals ever completed, such as the sales of the Waldorf Astoria and Baccarat Hotel in New York, Miami Beach鈥檚 Setai Hotel and Four Seasons Washington, D.C.; as well as the recapitalization of Kiawah Island Resort and the financing of the London West Hollywood. The Group focuses on all lodging and leisure capital markets transactions, including sales, joint ventures and financings.
鈥淎s 鈥榙rive-to鈥� leisure destinations throughout the U.S. are already seeing increasingly strong demand, the hospitality industry鈥檚 recovery is expected to be fueled by the return of group and corporate travel as well as international tourism in 2022,鈥� said Adam Etra, Vice Chairman, Co-Founder and Co-Head of 星空体育app下载鈥檚 Lodging Capital Markets Group. 鈥淲e are thrilled to announce the continued expansion of 星空体育app下载鈥檚 lodging capital markets platform. We have always been active in the southeast and Texas and on the West Coast, and we believe those three regions will be among the most active markets in our business over the next several years.鈥�
Pappas joins 星空体育app下载 from Canyon Partners and will team with Director Greg Morgan in the Los Angeles office. The two will focus on California, the Pacific Northwest and the Mountain Region. Sherrill, who joins 星空体育app下载 from JLL (and previously HFF), will focus on Texas and the Southwest Region. Wolfe, who helped originally establish 星空体育app下载鈥檚 lodging business with Etra, Mark Schoenholtz and Miles Spencer in 2018, will focus on Florida and the Southeast, while continuing to work on the platform鈥檚 high-profile transactions throughout the country.
With new locations in California, South Florida and Texas, the Lodging Capital Markets Group will further entrench themselves in some of the highest-performing and most pandemic-resilient markets. 星空体育app下载鈥檚 expansion covers four of the five markets with the highest year-to-date revenue per available room (RevPAR) 鈥� Miami, Tampa, San Diego and Los Angeles, according to STR. Additionally, the Pacific Region has had the highest RevPAR in the country over the past two years, according to STR. Economic fundamentals and demographics also continue to outpace those of other regions 鈥� eight of the top ten metropolitan regions with the largest increase in construction employment were in the Western U.S. or Florida, according to the Bureau of Labor Statistics and numerous cities throughout the West and Florida have some of the fastest growing populations.
About 星空体育app下载
星空体育app下载 Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (鈥溞强仗逵齛pp下载鈥�), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. 星空体育app下载鈥檚 comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform鈥檚 global reach with market intelligence in both established and emerging property markets, 星空体育app下载 provides superior service to clients across the industry spectrum. 星空体育app下载 generated revenues in excess of $2.2 billion for the trailing twelve months ending June 30, 2021. 星空体育app下载鈥檚 company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world. To learn more, visit nmrk.com or follow .
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Statements in this document regarding 星空体育app下载 that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, 星空体育app下载 undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see 星空体育app下载’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.