NNN Pro, a net lease investment sales and advisory firm, has named a 20-year-plus industry veteran to lead a newly created capital markets unit.
NNN Pro said it named Christopher Marks, who has helped finance more than 2,000 transactions totaling more than $4 billion, as a senior managing director to help broker commercial financing and debt deals with investors nationwide across all property types. Marks spent the past 15 years at Marcus & Millichap, where he was consistently recognized as a top producer at the firm, according to NNN.
Marks is based in New York.
The move comes as commercial real estate financing shows signs of rebounding after a period of low activity amid elevated interest rates. CRE debt origination volume rose 15% in 2024 even though it remained well below pre-pandemic averages, according to a Newmark capital markets report.
The market is bracing for some $2 trillion in debt maturities in the 2024-26 period as 46% of the debt was originated while the fed funds rate was less than 0.25%, compared to the rate of 4.48% at the end of 2024, Newmark said.
In its report, Newmark also said many loans are "underwater or nearly so." That typically refers to a situation where borrowers owe more than what their properties are worth.
NNN Pro formed as a stand-alone firm in 2023, when it separated from Marcus & Millichap. When the separation occurred, NNN Pro said the two companies "will continue to maintain a strong working relationship" as they moved forward.
“Adding Capital Markets services to our platform was the obvious next step in our company’s growth story as we bring an in-house partner and specialist to best service the financing needs of our clients,” NNN Pro CEO Glen Kunofsky said in a statement. Kunofsky said he’s worked with Marks for nearly two decades in the business.
Marks will also be joined by Cameron Thornton and Stefanie Buchanan, both formerly with Marcus & Millichap; Joyce Crowder, formerly of CapStar Bank; and Howard Curd with NNN.
Besides New York, the capital markets team is also hiring in Scottsdale, Arizona, and Boston, NNN Pro said.