Newmark expands capital markets leadership, JLL Hotels names new western leader, CBRE elevates veteran to executive role

Newmark said it hired Matt Duffy as an executive managing director to co-head its capital markets strategic advisory group with Andrew Warin. The addition of Duffy cements the specialty practice group’s leadership, Newmark said. Duffy, who previously worked at Eastdil Secured, has more than two decades of experience arranging joint ventures, project and fund-level capital raises and directing entity-level transactions across several ownership structures. At Newmark, he and Warin will focus on strategic advisory and liquidity solutions and expanding client service and advisory services in several asset types, including residential, industrial, retail, office and alternative assets, the brokerage said.

While at Eastdil, Duffy helped lead its U.S. housing platform and structured transactions group. He has led sales, joint ventures, equity raises and capitalizations of approximately $50 million to $4 billion on behalf of large public and private entities. Based in New York, Duffy reports to Newmark CEO Barry Gosin, and works closely with U.S. senior capital markets executives including Jonathan Firestone, Jordan Roeschlaub, Doug Harmon, Adam Spies, Kevin Shannon and Rob Griffin.

JLL Hotels & Hospitality has tapped brokerage veteran Tony Muscio as senior managing director of the group and leader of its western region practice. A 20-year commercial real estate veteran with 18 years at JLL, Muscio specializes in the sale of luxury resorts and trophy hotels, JLL said. He has been involved in more than $12 billion of hospitality transactions throughout his career. In his new role, the Los Angeles-based Muscio will report to Kevin Davis, Americas CEO for JLL Hotels & Hospitality, and work closely with Jeff Bramson and Jeff Sause, who co-head JLL’s Los Angeles capital markets team, the brokerage said. "Tony’s appointment is a commitment to growing our business in California, Hawaii, Arizona and Colorado, which are among the largest hospitality markets in the country," Davis said in a statement. "His leadership and expertise will play a pivotal role in driving business with our largest clients in this key region." Muscio started his career at PKF Consulting, where he conducted hotel feasibility studies and appraisals. In 2004, he joined JLL, where he spent nearly two decades and worked on some of the largest sales in the region, including the Four Seasons Resort Hualalai on Hawaii's Kona Coast and Four Seasons Resort Bora Bora and the recapitalization of Sunset Tower Hotel. He left JLL in January 2022 to serve as a managing director at KBC Advisors and returned this month.

CBRE has promoted Kelly Conaway, who had led the brokerage's Northeast marketing department for nearly two decades, to managing director of its greater Philadelphia region. Her new role includes overseeing business in downtown and suburban Philadelphia, Delaware, Southern New Jersey, the Lehigh Valley and Central Pennsylvania, CBRE said. During her nearly 19 years at CBRE as she rose to director of marketing, Conaway supported business development, and managed existing accounts and brand expansion that benefited clients, said Rija Beares, CBRE's greater Philadelphia market leader. "In addition, her keen focus on driving revenue growth and market share makes this move a natural progression,” Beares said in a statement.

Development firm Portman has hired Bryon Brown as senior vice president of development in Texas. In his new role, Brown, who has 16 years of experience, will focus on growing and leading the firm’s mixed-use development portfolio that contains office, hotel, retail and multifamily properties in significant Texas markets including Austin, Dallas and Houston, Portman said.

During his career, Brown has overseen the development and investment of more than 5,000 multifamily units across the U.S. Before he joined Portman, Brown served as executive vice president of investments at Aquila Commercial, a boutique real estate firm in Austin. “Texas continues to be an important growth market for us, and we are confident that Bryon will play an impactful role as we increase our presence across the state," Portman Managing Director Harvey Wadsworth said in a statement.

Stotan Industrial, a private investment firm that buys and develops industrial properties in high-growth markets, has opened a new office in El Segundo, California. In conjunction with the expansion into the Golden State, Stotan hired industry veteran Will McPhee to serve as vice president and market officer of the Chicago-based company's new California operation. In his new role, McPhee will spearhead the firm’s quest for West Coast investments by targeting the markets of Las Vegas, Reno in Nevada, and Phoenix, Salt Lake City and Southern California. McPhee joined Stotan from Overton Moore Properties where, as a vice president, he oversaw acquisitions, entitlements and leasing in California's Inland Empire, and in Nevada and Utah. During his time at Overton Moore, he expanded the firm’s development pipeline by 6 million square feet. "This expansion to Los Angeles represents a pivotal moment in the company's growth and underscores our dedication to delivering outstanding results for clients nationwide,” Stotan Chief Investment Officer and Principal Dan Fogarty said in a statement.

Real estate developer and master planner Steiner + Associates has hired Gavin Thomas as executive vice president of development. In his new role, Thomas will lead the Columbus, Ohio-based company's design-driven new development and redevelopment projects, the firm said. Steiner founder and CEO Yaromir Steiner said Thomas' work in the mixed-use and hospitality sectors will complement the experience of his firm's executive team. Before he joined Steiner, Thomas served as a vice president at Hendricks Commercial Properties, where he was the lead executive on its Bottleworks District project in downtown Indianapolis. His experience also includes redevelopment of more than $260 million of mixed-use assets for Kite Realty Group and over $1 billion of retail acquisitions for CBL & Associates. “Gavin is a critical addition to our leadership team at a time when we are experiencing great growth potential as a company,” CEO Steiner said in a statement.