Newmark announces the company has added Bay Area market veteran Adam Berry to its leading Western U.S. multifamily investment sales business as a Vice Chairman. Based in San Francisco, Berry will join Joseph Smolen, Geoff Boler, Jonathan Merhaut, Lee Redmond, Eve Loecher and Eugene Chong, among the country’s most revered and productive investment sales professionals, with a focus on San Francisco and Northern California properties.
“Adam brings an elevated level of owner-focused sophistication and market intelligence to our group,” said Smolen. “With his unique perspective and his familiarity with the Bay Area market, we expect him to be an immediate depth and value builder for our clients.”
The California-based multifamily group led by Smolen and Boler is one of the most prolific in the industry. Over the last several years, they have been responsible for some of the most significant transactions in the market, such as the $925 million sale of Westlake Village Apartments in the Bay Area, Kiara in Seattle, Kapilina Apartments on Oahu, and the Park 12 in San Diego. They have also helped lead many of the most important portfolio sales and recapitalizations across the country.
“Newmark is committed to strategic growth throughout the West, and California remains a critical focus,” said Nick DiPaolo, Southwest Market Leader. “Our ability to attract top-tier talent reflects our dedication to building best-in-class teams that deliver unmatched value to clients across the region.”
Berry has extensive experience in the multifamily industry. In his 20 years with California-based Essex Property Trust, a vertically integrated publicly traded REIT, the Company’s market capitalization grew from approximately $1.5 billion to over $15 billion. Berry oversaw transactional volume of over $10 billion during his time at Essex, most recently as its Chief Investment Officer.
“Joining Newmark presents an exciting opportunity to be part of a successful, fast-growing firm with one of the strongest multifamily investment sales businesses in the country,” said Berry. “I’ve had the opportunity to work alongside several members of this group during my career, and I’m looking forward to reuniting with such a highly respected and collaborative team.”
Mesa West Capital has provided an affiliate of Houston-based The Dinerstein Companies (“Dinerstein”) with $59 million in first mortgage debt for its acquisition of Manor Six Forks, a 298-unit multifamily community in Raleigh, NC, which is now rebranded as “Infinity Six Forks.”
Mesa West’s five-year, non-recourse financing for Manor Six Forks allows Dinerstein to enter the Raleigh market. Brian Hirsh, Mesa West Executive Director, led the Chicago-based origination team with Russell Frahm, Executive Director in Mesa West’s New York office.
“Raleigh is one the fastest growing markets nationally with an increase in high paying professional jobs and an attractive cost of living relative to the gateway markets. We expect high quality, well-located multifamily will continue to be in strong demand as Raleigh continues to grow,” said Hirsh. “Despite increases in Raleigh’s new multifamily supply, net absorption has been positive through the first half of the year,” continued Hirsh. “While many U.S. markets are facing volatility and a variety of headwinds, experienced sponsorship is as important as ever, and we are confident in Dinerstein’s ability to execute on a value-add business plan.”
Manor Six Forks, which was 95% leased at closing, is situated between North Hills and Downtown Raleigh, two of the city’s most dense and dynamic submarkets. Built in 2010 and partially renovated in 2019, the property at 900 E. Forks Road features a mix of one- to three-bedroom floorplans ranging in size from 800 to 1,357 square feet. The highly amenitized community includes a clubhouse, resort-style pool, rooftop lounge and a fitness center.
The financing was arranged by Matt Greer and Andrew Wilson in Newmark’s Austin office.
Mesa West Capital has provided an affiliate of Houston-based The Dinerstein Companies (“Dinerstein”) with $59 million in first mortgage debt for its acquisition of Manor Six Forks, a 298-unit multifamily community in Raleigh, NC, which is now rebranded as “Infinity Six Forks.”
Mesa West’s five-year, non-recourse financing for Manor Six Forks allows Dinerstein to enter the Raleigh market. Brian Hirsh, Mesa West Executive Director, led the Chicago-based origination team with Russell Frahm, Executive Director in Mesa West’s New York office.
“Raleigh is one the fastest growing markets nationally with an increase in high paying professional jobs and an attractive cost of living relative to the gateway markets. We expect high quality, well-located multifamily will continue to be in strong demand as Raleigh continues to grow,” said Hirsh. “Despite increases in Raleigh’s new multifamily supply, net absorption has been positive through the first half of the year,” continued Hirsh. “While many U.S. markets are facing volatility and a variety of headwinds, experienced sponsorship is as important as ever, and we are confident in Dinerstein’s ability to execute on a value-add business plan.”
Manor Six Forks, which was 95% leased at closing, is situated between North Hills and Downtown Raleigh, two of the city’s most dense and dynamic submarkets. Built in 2010 and partially renovated in 2019, the property at 900 E. Forks Road features a mix of one- to three-bedroom floorplans ranging in size from 800 to 1,357 square feet. The highly amenitized community includes a clubhouse, resort-style pool, rooftop lounge and a fitness center.
The financing was arranged by Matt Greer and Andrew Wilson in Newmark’s Austin office.
Newmark is pleased to announce that debt and structured finance veteran Anita Paryani-Rice has joined the firm as Executive Managing Director. With more than 25 years of commercial real estate experience, Paryani-Rice specializes in the origination of a full range of debt and structured finance products for multifamily, office, retail, hotel, industrial and other commercial assets nationwide, including Fannie Mae, Freddie Mac, CMBS, life company, bank, mezzanine and bridge/debt fund loan executions. Paryani-Rice is joined by Vice President David Fierroz who will work closely with her team to oversee underwriting, debt/equity placement and transaction management.
Paryani-Rice will partner with debt and structured finance Vice Chairman Darrin Stovall and Executive Managing Director Scot Snowball of Newmark’s Multifamily Capital Markets operation in Newport Beach, California as well as Newmark Investment Sales Teams across the U.S.
Paryani-Rice has placed and structured over $5 billion in capital through varying executions and capital structures throughout her career for a variety of property types.
“Anita’s expertise with middle market transactions ranging from $5 to $70 million and her deep relationships with a diverse base of clients including institutional and private clients, both foreign and domestic, align with Newmark’s commitment to continuously broaden the services we provide,” said Sharon Karaffa, Vice Chairman, Co-Head of Production of Newmark’s Multifamily Capital Markets group.
Stovall added, “Anita’s skill set with a significant focus on multifamily bridge debt executions and commercial property debt placement enables us to provide additional debt and equity products to our clients in addition to our superior agency execution. We are thrilled to have her join our team.”
“Newmark’s best in class talent, the synergies between the formidable investment sales and debt teams and the various lines of business as well as the top ranked GSE lender platform provide the opportunity to broaden my relationships, expand my lending network with direct access to Fannie Mae and Freddie Mac and best service my clients,” noted Paryani-Rice. “I am excited for this next chapter in my career, and I look forward to collaborating with the various Newmark professionals across the country.”
Paryani-Rice joins Newmark from Institutional Property Advisors, a division of Marcus & Millichap, where she was honored with numerous awards including "Rainmaker" by Real Estate Forum, Bisnow's Power Women and "Women of Influence" by LA Biz Journal. Earlier in her career, she also spent time at HFF and Lincoln Property Company. Paryani-Rice is actively involved with the University of Southern California (USC) as part of the USC Lusk Center Executive Center, USC Associates and Cardinal and Gold. She also serves on the board for the Progressive Osseous Heteroplasia Association.
Newmark is pleased to announce that debt and structured finance veteran Anita Paryani-Rice has joined the firm as Executive Managing Director. With more than 25 years of commercial real estate experience, Paryani-Rice specializes in the origination of a full range of debt and structured finance products for multifamily, office, retail, hotel, industrial and other commercial assets nationwide, including Fannie Mae, Freddie Mac, CMBS, life company, bank, mezzanine and bridge/debt fund loan executions. Paryani-Rice is joined by Vice President David Fierroz who will work closely with her team to oversee underwriting, debt/equity placement and transaction management.
Paryani-Rice will partner with debt and structured finance Vice Chairman Darrin Stovall and Executive Managing Director Scot Snowball of Newmark’s Multifamily Capital Markets operation in Newport Beach, California as well as Newmark Investment Sales Teams across the U.S.
Paryani-Rice has placed and structured over $5 billion in capital through varying executions and capital structures throughout her career for a variety of property types.
“Anita’s expertise with middle market transactions ranging from $5 to $70 million and her deep relationships with a diverse base of clients including institutional and private clients, both foreign and domestic, align with Newmark’s commitment to continuously broaden the services we provide,” said Sharon Karaffa, Vice Chairman, Co-Head of Production of Newmark’s Multifamily Capital Markets group.
Stovall added, “Anita’s skill set with a significant focus on multifamily bridge debt executions and commercial property debt placement enables us to provide additional debt and equity products to our clients in addition to our superior agency execution. We are thrilled to have her join our team.”
“Newmark’s best in class talent, the synergies between the formidable investment sales and debt teams and the various lines of business as well as the top ranked GSE lender platform provide the opportunity to broaden my relationships, expand my lending network with direct access to Fannie Mae and Freddie Mac and best service my clients,” noted Paryani-Rice. “I am excited for this next chapter in my career, and I look forward to collaborating with the various Newmark professionals across the country.”
Paryani-Rice joins Newmark from Institutional Property Advisors, a division of Marcus & Millichap, where she was honored with numerous awards including "Rainmaker" by Real Estate Forum, Bisnow's Power Women and "Women of Influence" by LA Biz Journal. Earlier in her career, she also spent time at HFF and Lincoln Property Company. Paryani-Rice is actively involved with the University of Southern California (USC) as part of the USC Lusk Center Executive Center, USC Associates and Cardinal and Gold. She also serves on the board for the Progressive Osseous Heteroplasia Association.
Newmark is pleased to announce that debt and structured finance veteran Anita Paryani-Rice has joined the firm as Executive Managing Director. With more than 25 years of commercial real estate experience, Paryani-Rice specializes in the origination of a full range of debt and structured finance products for multifamily, office, retail, hotel, industrial and other commercial assets nationwide, including Fannie Mae, Freddie Mac, CMBS, life company, bank, mezzanine and bridge/debt fund loan executions. Paryani-Rice is joined by Vice President David Fierroz who will work closely with her team to oversee underwriting, debt/equity placement and transaction management.
Paryani-Rice will partner with debt and structured finance Vice Chairman Darrin Stovall and Executive Managing Director Scot Snowball of Newmark’s Multifamily Capital Markets operation in Newport Beach, California as well as Newmark Investment Sales Teams across the U.S.
Paryani-Rice has placed and structured over $5 billion in capital through varying executions and capital structures throughout her career for a variety of property types.
“Anita’s expertise with middle market transactions ranging from $5 to $70 million and her deep relationships with a diverse base of clients including institutional and private clients, both foreign and domestic, align with Newmark’s commitment to continuously broaden the services we provide,” said Sharon Karaffa, Vice Chairman, Co-Head of Production of Newmark’s Multifamily Capital Markets group.
Stovall added, “Anita’s skill set with a significant focus on multifamily bridge debt executions and commercial property debt placement enables us to provide additional debt and equity products to our clients in addition to our superior agency execution. We are thrilled to have her join our team.”
“Newmark’s best in class talent, the synergies between the formidable investment sales and debt teams and the various lines of business as well as the top ranked GSE lender platform provide the opportunity to broaden my relationships, expand my lending network with direct access to Fannie Mae and Freddie Mac and best service my clients,” noted Paryani-Rice. “I am excited for this next chapter in my career, and I look forward to collaborating with the various Newmark professionals across the country.”
Paryani-Rice joins Newmark from Institutional Property Advisors, a division of Marcus & Millichap, where she was honored with numerous awards including "Rainmaker" by Real Estate Forum, Bisnow's Power Women and "Women of Influence" by LA Biz Journal. Earlier in her career, she also spent time at HFF and Lincoln Property Company. Paryani-Rice is actively involved with the University of Southern California (USC) as part of the USC Lusk Center Executive Center, USC Associates and Cardinal and Gold. She also serves on the board for the Progressive Osseous Heteroplasia Association.
