Cushman & Wakefield Adds Marc Magazine to Bulk Up New Hospitality Team
Cushman & Wakefield (CWK) has added Marc Magazine as a new executive director in the firm’s Washington, D.C., office, as it expands its hospitality presence across the U.S.
In his new role, Magazine will focus his efforts in the mid-Atlantic region, helping expand Cushman & Wakefield’s multimarket-based hospitality group, which services private capital and institutional clients.
The team, led by David Greenberg, was created in January to spearhead the brokerage’s expansion in the hospitality sector. Cushman & Wakefield’s hospitality push was initially focused on the Southeast region, but has since expanded into the mid-Atlantic with plans to grow to other markets nationwide.
“I was drawn to how Cushman & Wakefield is extremely committed to the hospitality capital markets space,” Magazine told Commercial Observer. “In particular, the growth that David Greenberg and his hospitality team envisioned was a good match for me, and I’m excited to be part of it while also contributing to the firm’s overall growth.”
The addition of Magazine brings the team to nine members, which in addition to Greenberg includes brokers Gabriel Shamay, Christopher Passeggiata, Ely Silverstein and Jesse Lastofsky, senior financial analyst Ryan Glasser, and marketing specialist Katherine Gerdung, all based in Boca Raton, Fla., and broker Rick Redmond based in Charleston, S.C.
The hospitality group has generated more than $57.4 million in sales volume since forming, according to Cushman & Wakefield, with another $110 million currently under agreement and scheduled to close prior to year-end.
Magazine has completed more than $5 billion in hotel transactions over the course of 15 years and has been in the hospitality business in Washington D.C. for 40 years. He comes from Savills where he led the firm’s entire U.S. Hotel Group with the late Tom Baker
Over the last 12 months, Magazine represented George Washington University in both the sale of One Washington Circle Hotel and The Aston in Washington, D.C. He also represented Noble Investments in its purchase of The Hampton Inn in Charlottesville, Va.
Keith Loria can be reached at Kloria@commercialobserver.com.