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NKF Adds Four Top-Level Industry Executives to Co-Head Newly Formed Lodging Capital Markets Group

New York, NY (05/23/2018)

9:00 AM

Newmark Knight Frank (NKF) is pleased to announce that four industry veterans Adam Etra, Mark Schoenholtz, Miles Spencer and Lawrence Wolfe have joined NKF to lead NKF Lodging Capital Markets as Vice Chairman and Co-Heads. Each brings with them a diverse range of industry experience in all types of lodging and leisure transactions, including property and portfolio sales, joint venture transactions and debt placement.

Each broker joins NKF from Eastdil Secured where they helped oversee the industry leading practice and had unprecedented success, completing over $250 billion of lodging transactions. "We plan to build on the decades of success we have had together and focus on delivering superior service and unparalleled results for our clients," said Wolfe. Added Spencer, "The culture within our organization will focus on collaboration, cooperation and the sharing of information to ensure that our clients remain our top priority."

"We will continue to utilize our unique combination of capital markets knowledge and in-depth understanding of lodging fundamentals to deliver best-in-class results for our clients," said Etra. "Moreover, we will be able to take advantage of the countless services and resources that BGC and NKF have to offer to provide unique insights, solutions and access to capital providers."

"We are especially excited about the firm's global footprint and the ability to access emerging sources of international capital," said Schoenholtz.

Etra, Schoenholtz, Spencer and Wolfe, bring to the firm nearly 100 years of combined experience and expertise with a broad range of clients, including REITs, private equity firms, hedge funds, high net worth investors and sovereign wealth funds.

In addition to these industry veterans, the following individuals have also joined NKF Lodging Capital Markets: Michele Mahl, Managing Director, Nicholas Pappas, Director, and Jessica Shevins, Associate Director.

"We're thrilled to add more top tier talent to our strong roster of Capital Markets professionals. Our goal is to provide expert counsel to clients in all asset classes," said NKF CEO Barry Gosin. "Their depth of market experience is unparalleled and offers tremendous expertise to our clients. Hiring industry veterans to lead this group will continue to propel NKF forward with this growing practice. Bringing on the best veterans of lodging capital markets experts fills a void."

The group has handled countless noteworthy transactions, including some of the largest hotel sales nationwide. Recent transactions include the Waldorf Astoria New York, W Lexington New York, Ritz Carlton and JW Marriott Grande Lakes Resort in Orlando, Four Seasons Miami, Boston Park Plaza, Kiawah Resort, Four Seasons Austin, Hilton Washington D.C., W Atlanta Downtown and numerous select service portfolio transactions.

About Newmark Knight Frank
Newmark Knight Frank ("NKF"), operated by Newmark Group, Inc. ("Newmark"), is one of the world's leading commercial real estate advisory firms. Newmark has over 4,600 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, NKF's 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, NKF's strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.

Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point and NKF Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have relationships with many of the world's largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. For further information, visit www.ngkf.com.

Newmark, which is listed on the NASDAQ Global Select Market under the symbol "NMRK", is a publicly traded subsidiary of BGC Partners, Inc. ("BGC"), a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol "BGCP". BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol "BGCA".

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's and BGC's Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.