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NKF Opens Office in Buffalo, NY to Expand Reach of its Valuation & Advisory Practice

Buffalo, NY (04/04/2019)

2:00 PM

Newmark Knight Frank (NKF) is pleased to announce the expansion of its Valuation & Advisory (V&A) practice with the opening of its nine-person Buffalo office, led by Executive Vice President Scott Allen, MAI.

Mr. Allen, a 33-year industry veteran, brings a deep knowledge of valuation and market studies across a range of asset types. At NKF, he will continue to focus on HUD FHA valuation and market studies while also concentrating on affordable housing/Low Income Housing Tax Credit (LIHTC) and conventional multifamily valuation and advisory work. With more than three decades of experience, he possesses a deep knowledge of senior housing, student housing and rent comparability studies.

David Carlon, senior vice president, and Joseph Sievert, senior appraiser, have a combined 34 years of experience, preparing valuations and market analyses across a broad range of property types, with a special focus on multifamily and residential housing. They have prepared appraisals for mortgage lenders, corporations, non-profits, tax credit syndicators, private developers/investors, and government entities including Fannie Mae/Freddie Mac, HUD and Rural Development.

The team joins NKF from commercial real estate firm GAR Associates. Included in the team are Senior Research Analysts Brian Smith and Phil Buffone, Research Analyst Eric Broughton and Analyst Erin Schafer, who specialize in data and report processing across asset types.

"We are excited to add Scott, Dave and the team in Buffalo. The practice they have built has become one of the preeminent teams in the HUD Multifamily space. Together with our teams in Denver, Phoenix, Charlotte and Pittsburgh, NKF has assembled a dominant national practice," said John Busi, MAI, FRICS, President of NKF V&A. "This new office, combined with this team's deep understanding of the HUD Multifamily landscape and current market trends, strategically positions us to better serve existing and new clients."

About Newmark Knight Frank
Newmark Knight Frank ("NKF"), operated by Newmark Group, Inc. ("Newmark Group") (NASDAQ: NMRK), is one of the world's leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF's 16,000 professionals operate from approximately 430 offices on six continents. NKF's investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. 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. For further information, visit www.ngkf.com.

Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group 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 Group 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 Group'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.

For Media Inquiries Contact:
Deb Bergman
Vice President PR and Communications
Newmark Knight Frank
T 303.260.4307