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.

Amplify Development Company, a national real estate development and investment management company with ties to Colorado, has expanded its student housing-focused portfolio in the state, acquiring the Vista Apartments across from the University of Denver for $41.3 million. The acquisition is the firm’s third in Colorado and second near the University of Denver since 2021.

Director Jack Brett with Newmark’s Student Housing group represented the seller while Senior Director Nick Steele and Director Tyler King with Berkadia Denver represented Amplify in the transaction.

Located at 1920 S. University Blvd. in Denver, the class A off-campus student-focused apartment building primarily serves the University of Denver as well as young professionals and residents in the city’s desirable Observatory Park and Cherry Creek neighborhoods. The nine-story structure was built in 2008 and consists of 84 units with 284 total bedrooms, two levels of above-grade parking and numerous amenity offerings.

“Denver’s University Park neighborhood is a special market, and we are thrilled to continue our relationship with the university and surrounding community,” said Alec Paddock, managing director and co-founder of Amplify Development Company. “We have substantial improvements, renovations and partnerships planned for Vista that we look forward to unveiling and are confident students and residents will enjoy.”

Situated just steps from the University of Denver campus, Vista offers two-, three- and four-bedroom fully furnished apartments with private bathrooms, flat screen TVs in living rooms and floor-to-ceiling windows with unobstructed views of the DU campus, downtown Denver and the Rocky Mountains.

Amenities include a business center, study rooms, computer lab, Wi-Fi, TV lounge, 24-hour maintenance and laundry facilities on each floor. The pet-friendly property also offers two outdoor terraces, an outdoor TV lounge, fireplace, grilling stations, secured covered parking and bike parking.

To improve the resident experience, Amplify is planning a comprehensive renovation of each of the property’s 84 units this fall, including upgrading the appliances, cabinets, countertops, millwork, light fixtures and furniture, and plans to implement numerous renovations and upgrades to the property’s common areas and utility infrastructure to reduce energy use. Denver-based Capstone Management Partners will be brought on to manage the property.

“Capstone Management Partners is the best in the business. Headquartered just five miles from the University of Denver campus, they understand the DU market as well as anyone,” added Paddock. “We have had the pleasure of working with Capstone on a number of properties in our portfolio over the years and are excited to have such a top-tier management and leasing company as a part of the Vista team.”

Amplify Development Company has been active in the Colorado market since 2021, having acquired Westside House, a 21-unit, 40-bed building near Colorado State University in Fort Collins, and University Lofts, the 35-unit, 97-bed mixed-use complex with ground floor retail and subterranean parking adjacent to the University of Denver.

Amplify added a new residential studio unit, converted a portion of the vacant retail space into an entry lobby with resident amenities, leased the remaining vacant retail space and master leased the entirety of the apartment component of University Lofts to DU before selling it in October 2022.

“We see a lot of growth potential in Colorado and the broader Denver market and are eager to continue to expand our portfolio in the region for years to come,” noted Paddock, who grew up in Louisville, 30 minutes north of Denver.

Newmark [1] announces it has arranged the sale of Centerra Apartments, a 347-unit apartment tower located in San Jose, California. The asset sold for an undisclosed amount.

Newmark Vice Chairman Scott Bales and Senior Analyst David Hosler represented the seller, AFL-CIO Building Investment Trust, advised by PNC Realty Investors. Newmark Vice Chairman Ramsey Daya and Senior Managing Director Chris Moritz arranged the acquisition financing.

Located at 77 N. Almaden Avenue, the high-rise property is comprised of 21 floors totaling 325,169 square feet of residential space and approximately 7,000 square feet of retail. Built as apartments with condo mapping in-place, the asset offers a unique mix of one-, two- and three-bedroom units including townhomes, live works, lofts and junior units.

“Newmark is proud to have represented our client in the sale of this highly unique luxury property,” said Bales. “Centerra is one of the only high-rise apartment towers in Silicon Valley and is located on the best block in Downtown San Jose, directly across the street from San Pedro Square”.

Centerra Apartments features world class amenities including a pool and spa, an integrated parking structure, a media lounge with bar and fireplace, a fitness center, outdoor gathering spaces, a conference center and a game room. The property is situated in San Jose’s transit-oriented downtown core, across the street from the San Pedro Square and one block from the Highway-80 on-ramp.

Investor appetite for U.S. multifamily assets surged during the second quarter of 2022 with $86.3 billion in sales volume, according to Newmark Research. This represented a 42.4% year-over-year increase, as well as the third-largest quarterly sum in history. Volume during the first half of 2022 accelerated 53.1% compared with the first half of 2021. This uptick in activity was in part due to buyers and sellers deliberately transacting ahead of impending FOMC rate hikes and the mid-term elections later in the year.

Newmark[1] announces it has completed the sale of Millennium Gardena, a fully entitled development site slated for 262 multifamily units and located at 12850 Crenshaw Boulevard in the South Bay neighborhood of Hawthorne, California.

Newmark Senior Managing Director Chris Benton, Managing Director Anthony Muhlstein, Co-Head of Capital Markets Kevin Shannon and Executive Managing Director Ken White represented the seller, The Dinerstein Companies. The buyer was a joint venture between Cityview and Stockbridge.

The sustainability-focused multifamily building planned for the site will be called South Bay X, and will feature a combination of studio, one- and two-bedroom units ranging from 510 to 1,197 square feet. It is expected to break ground during the fourth quarter of 2022 with a targeted delivery in early 2025. Sustainable features planned for the building include LEED Silver certification, high-performing lighting, enhanced indoor air quality, and a renewable-energy-powered solar thermal water heating system. Building amenities will include a state-of-the-art fitness center, resort-style pool, spa, lanai, outdoor strength area, barbeques and open-air courtyards.

“South Bay is an undersupplied multifamily market adjacent to some of the largest tech firms in Los Angeles,” said Benton. “With multifamily market fundamentals extremely strong across the region, the buyer’s plan to build sustainable, market-rate housing will be well received.”

Muhlstein added, “Millennium Gardena will serve as a great addition to an underserved apartment market with leading local employers such as Ring and SpaceX.”

Millennium Gardena’s location in the fast-growing South Bay neighborhood offers convenient access to the area’s diverse mix of technology, aerospace and ecommerce employers including Tesla, SpaceX and Ring directly adjacent to the property. The site is less than one mile from Interstate 105, and just three miles from Interstates 405 and 110. The transit-oriented location is two blocks from the LA Metro Green Line and less than five miles from Los Angeles International Airport (LAX).

“Major global tech, aerospace, automotive and ecommerce corporations are relocating to this South Bay community, making it a perfect time for Cityview and Stockbridge to execute on our shared vision for bringing new jobs and building much needed, quality market-rate workforce housing to this undersupplied market,” said Cityview CEO Sean Burton in a prepared statement. “We are both eager to be part of the revitalization efforts taking place in this region and provide increased sustainable living options to our residents.”

U.S. multifamily investment sales volume reached an unprecedented $148.9 billion during the fourth quarter of 2021, according to Newmark Research. Annual sales volume rose to a record high of $335.3 billion, an increase of 128.2% year-over-year. Investment as a percentage of the overall US commercial real estate market rose to 41.5% in 2021, the highest allocation to multifamily on record. Absorption surged to 673,478 units in 2021, far outpacing the new supply of 358,734 units. Strong demand over the trailing 12 months in Los Angeles, New York and Washington, D.C. is an encouraging sign of momentum in large, supply-constrained markets.