Newmark Knight Frank has added industry vets Christine Espenshade, Robert Garrish and Shawn McDonald to lead the firm’s Mid-Atlantic Multifamily Capital Markets team.
“NKF has always had a significant market share in multifamily sales and financing, and we have been excited to see the expansion of the platform with additional hires, new technologies, and further integration with financing products,” Espenshade told Commercial Observer.
The trio of new hires have a combined 65 years of experience, with more than $45 billion in combined career multifamily-related transactions. They come to NKF by way of JLL and all three will serve as vice chairmen in their new roles. Espenshade and Garrish will specialize in multifamily investment sales and McDonald will specialize in multifamily debt and structured finance.
At JLL, Espenshade co-led the national multifamily platform, as well as a nine-person Mid-Atlantic-based multifamily team, where she was responsible for business development, financial underwriting and representing owners in the sale and capitalization of multifamily assets in the region. Garrish was a partner in the Mid-Atlantic Multifamily Investment Sales Group, while McDonald was part of the Capital Markets Finance Group at his old firm.
“Our responsibility will always be to find the best capital solutions for our clients owning, managing, or building multifamily in the Mid-Atlantic,” Espenshade said. “This could include the sale or refinance of an existing building, a recapitalization, or assistance with capital restructuring.”
The D.C. metro multifamily market is an important one for NKF, with more than $8 billion in capital invested over the past year alone. The team also comprises Senior Managing Director Wink Ewing, Executive Managing Director Mike Marshall and Associate Carter Wood.
“In addition to growing our sales and financing business with existing clients in the D.C. Metro, we are looking forward to partnering with the NKF sales team covering central and southern Virginia,” Espenshade said. “As a wide range of investors expand their geographic reach into secondary and tertiary markets with high growth potential, we believe partnering with Mike Marshall, Wink Ewing, and Carter Wood will allow us to be the best full-service commercial real estate team in the region.”