Newmark Strengthens U.S. Capital Markets Presence in the Rocky Mountain Region with Strategic Hire Tim Richey

July 31, 2024 9:00 AM

Newmark has hired Tim Richey as Executive Vice Chairman, Capital Markets, to focus on office and multifamily sales throughout Colorado and the surrounding region. Richey, one of the most respected and prolific institutional office capital markets brokers in the Rocky Mountain Region, has closed over $20 billion in transaction value during his career, which includes advising on 70% of high-rise office sales across the Denver skyline. Jack Richey, an industry protégé of, and soon to be collaborator with, Tim, is joining Newmark as an Associate Director to focus on Multifamily, to expand and elevate the region's practice.

"Bringing Tim and Jack into our team enhances our ability to deliver exceptional results to our clients," said Chad Lavender, President of Capital Markets for North America." This strategic addition demonstrates our incredible momentum in capital markets and our dedication to cultivating the business's premier talent, further enhancing our unrivaled expertise in the market."

"I'm proud to welcome Tim and Jack Richey to our Colorado team," said Kevin McCabe, Newmark Western Region President. "Leveraging Newmark's robust platform, designed for fostering dynamic growth and ensuring sustained success, we are strategically positioned to empower Tim and Jack to excel in office and multifamily asset classes. Their integration amplifies our commitment to delivering exceptional value and innovative solutions to our clients."

With more than 30 years of experience, Tim previously served as a Vice Chairman with Capital Markets, Institutional Properties at CBRE. Prior thereto, he served long stints at Cushman & Wakefield and Grubb & Ellis. He's been repeatedly recognized as a top producer and has served many of the most recognized and successful investment firms in the world, commanding the dominant market share of all investment sales in the Denver and Boulder markets from 2021 through 2023[1]. Tim's arrival will further strengthen Newmark's Rocky Mountain capital markets presence, already consisting of Vice Chairman Western Region Capital Markets, John Jugl and team.

Jack is a rising talent in the multifamily real estate sector, having worked previously for CBRE Colorado across multifamily and debt and structured finance sales teams. He joins Newmark Denver Multifamily professionals Courtney Crowder and Jack Kachadurian and Multifamily Debt & Structured Finance experts Charlie Williams, Tim Weldon and team.

"I'm excited to initiate a new phase of my institutional asset sales career with the hottest services platform in the country," Tim Richey said. "Newmark's recent momentum in securing top Capital Markets brokers while facilitating high-profile dispositions has been abundant. Add in the upside potential in multifamily, Newmark offers a growing and renewing platform to build and foster careers. Jack and I are thrilled to join the Denver office and collaborate alongside a proven team of industry professionals."

The announcement coincides with Newmark's addition of several strategic hires occurring across the business and geographically. The company has recruited key leaders in California and Atlanta, among others, and has made major hires in the retail, data center and multifamily capital markets sectors. The company also continues its expansion into Europe, where it has made the significant Debt and Structured Finance hires of Matthew Featherstone, Steve Williamson and Matthew Kang, and plans for continued recruitment and growth. Last March, the Company appointed Chad Lavender as President of Capital Markets for North America, where he oversees strategic direction within Capital Markets.

[1] MSCI Real Capital Analytics

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's 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's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of March 31, 2024, Newmark's company-owned offices, together with its business partners, operate from approximately 170 offices with 7,600 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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