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.”
