Caliber Funding Selects NGKF as Portfolio Adviser for 100 Locations in 28 States
By Barbra Murray, Contributing Editor
Newmark Grubb Knight Frank Global Corporate Services has secured a major outsourcing deal, the firm’s second in just over one month. Caliber Funding L.L.C. recently selected NGKF to manage the real estate mortgage lender and agency direct seller/servicer’s real estate transactions across the country.
NGKF’s exclusive contract calls for the firm to spearhead a host of activities, including tenant representation, landlord representation and dispositions. Portfolio and lease administration and consulting services will also fall under the firm’s purview. It’s no small undertaking, as Caliber’s portfolio encompasses more than 100 locations spanning 28 states.
“Given our rapid growth over the last year, we needed a real estate partner that could not only carry out our real estate transactional needs, but that added value and insight in terms of how and where we continue to develop,” said Nathan Sabo, a director with Caliber. “Newmark Grubb Knight Frank’s depth of knowledge and integrated platform of services is a great match for our portfolio.” NGKF will also orchestrate the development of technology to further enhance Caliber’s business performance. In February, the company announced the expansion of its operations with the addition of four new regional markets to its platform and the hiring of approximately 300 mortgage lending professionals.
Caliber is the second company to turn to NGKF for portfolio assistance over the last few weeks. In May, MoneyGram International tapped NGKF to spearhead brokerage, consulting and lease administration services for the global money transfer company’s 142-site international portfolio. As part of the exclusive contract, NGKF will also provide strategy as the company expands its operations.
It’s been a busy spring for NGKF, which was introduced to the industry in April in its current incarnation as the resulting entity of global brokerage company BGC Partners Inc.’s merging of Newmark Knight Frank and the former Grubb & Ellis Co. Earlier this month, NGKF brought aboard two new senior managing directors, Garett Stoffels and Jonathan Falik, both of whom had previously held leadership positions at global financial services concern Cantor Fitzgerald & Co. The firm has also recently welcomed executive managing director Kenneth Szady, as well as capital markets experts Mark Brown, Jeremy Stoler, N. Dante LaRocca and John Tesoriero.