Cushman & Wakefield has tapped a longtime executive to lead its $500 million joint venture with Greystone's multifamily agency lending, servicing and Federal Housing Administration lines of business.
Cushman & Wakefield appointed John O'Neill, an 18-year veteran of the firm, as president of U.S. multifamily capital markets, effectively immediately. O'Neill most recently served as president of Cushman & Wakefield's U.S. Central region, and the firm said it would fill that position when it finds the right person.
"John will continue to be based in Atlanta and oversee the Central region with an adjusted leadership structure while we conduct an internal and external search for the next Central region president," Cushman & Wakefield spokesperson Grace Wilk said in an email.
In his new role, O'Neill oversees Cushman & Wakefield’s multifamily capital markets service line, and specifically, he will help guide the firm's joint venture with Greystone, Cushman & Wakefield said in a statement.
Under the terms of the deal announced in October, Chicago-based Cushman & Wakefield acquired a 40% stake in Greystone's agency, servicing and FHA financing businesses. Cushman & Wakefield said the partnership would give its clients more direct access to debt products to buy, refinance, build and refurbish apartment properties.
In turn, Greystone said the capital injection would position the national firm for future expansion and enable it to tap into Cushman & Wakefield's established network of brokers and advisers in core markets across the United States.
Cushman & Wakefield's joint venture with Greystone marked the firm's second major multifamily move in two years. Last year, the global commercial real estate services company acquired national multifamily property management firm Pinnacle Property Management Services in a transaction that Cushman said helped establish it as one of the country's largest multifamily property managers.
As investors across the country snap up apartments and pay record or near-record prices for them, "the multifamily sector presents tremendous opportunity for our firm," O'Neill said in a statement. He said he looks forward to working closely with Greystone and its founder and CEO Stephen Rosenberg, as well as Cushman & Wakefield’s multifamily capital markets, asset services, and valuation and advisory teams.
O'Neill joined Cushman & Wakefield in 2003 from Insignia/ESG, which he left after CBRE announced its plans to acquire the firm. O'Neill's Insignia/ESG colleagues John Shlesinger and Sam Holmes stayed with CBRE, where they've ranked annually as two of the firm's top Atlanta office tenant representatives.
After moving to Cushman & Wakefield, O'Neill experienced similar success. He was named Atlanta market leader in 2012 and served in that role for nearly five years before becoming leader of the Southeast region. Soon after, in January 2018, O'Neill was tapped to oversee Cushman & Wakefield's South Central region in addition to the Southeast.
In August 2020, O'Neill took over as president of Cushman & Wakefield's Central region.
Belfonti Appoints New COO of Property Management Affiliate
Janice Miner has been appointed chief operating officer of MCR Property Management, an affiliate of Hamden, Connecticut-based developer Belfonti Cos.
In her new role, Miner will work directly with CEO Michael Belfonti to maximize portfolio profitability.
Miner most recently served as a senior officer at Bozzuto Management Co., where she was responsible for business development in Connecticut and Rhode Island. Before that, she was a senior vice president at real estate investment trust Avalon Bay.
FirstService Promotes Mazza to Senior Vice President
FirstService Residential has promoted Anthony Mazza to senior vice president of community management in Southern California's Orange County.
In his expanded role, Mazza is responsible for client and associate retention, supervising and training community managers, and coordination of new client set-up and service.
Mazza has more than 15 years of community management experience, most recently as vice president of community management with FirstService. He holds the certified community association manager designation and has an educational background in accounting, graphic design and fire science.
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