Newmark Expands Germany Presence, Naming Top Industry Leader Marcus Lütgering as Country Head to Drive Growth and Strategy

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Newmark Group, Inc. (Nasdaq: NMRK) announces the appointment of Marcus Lütgering as Country Head for Germany, marking a significant expansion of its presence in the country. Lütgering, a distinguished industry leader, will oversee Newmark's brokerage operations in Germany, including recruiting, strategic direction, business development, and client service.

This move is part of Newmark's global strategy to hire top-tier professionals across various industry verticals, asset classes, and key geographies. The expansion into Germany offers opportunities for networking, partnerships, and business growth, capitalizing on the country's economic strength and investment opportunities.

Newmark has been rapidly growing its presence in Europe, with approximately 1,000 professionals in the EMEA region generating about $300 million in annual revenues over the twelve months ended June 30, 2024. The company aims to establish a presence in nearly all major German cities, replicating its leading occupier and investor advisory capabilities.

Positive

• Appointment of top industry leader Marcus Lütgering as Country Head for Germany
• Expansion into Germany, Europe's largest economy and a key market for commercial real estate
• Growth in EMEA region with 1,000 professionals and $300 million in annual revenues
• Increase in non-U.S. business revenue from 5% in 2021 to 13.4% in the twelve months ended June 30, 2024
• Ranked third-largest firm in U.S. investment sales and second-largest in U.S. debt origination for 2023

Negative

• None.

NEW YORK and MUNICH, Oct. 7, 2024 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers announces that Germany's distinguished industry leader Marcus Lütgering has joined to lead its efforts in building out the firm's German business, continuing its global strategy to hire top-tier professionals across nearly all industry verticals, asset classes and key geographies.

"Germany stands as a premier global financial and industrial center, home to 50 Forbes Global 2000 2024¹ companies, including major banks and other financial institutions, leading manufacturers and technology companies, as well as the European Central Bank. Under Marcus' leadership, our new German flagship offers tremendous opportunities for networking, partnerships and business expansion as we aim to capitalize on the country's economic strength and investment opportunities," said Barry Gosin, Chief Executive Officer. "We expect to be in nearly all major cities in Germany and expand the success of our global platform across the country, emulating our leading occupier and investor advisory capabilities."

Lütgering, based in Munich, will oversee Newmark's brokerage operations in Germany, including recruiting, strategic direction, business development and client service. Lütgering joins Newmark after building a renowned reputation, having led JLL's German office investment operations as head of the Munich office. He was a leading voice on the EMEA Office Board and also a member of the firm's Strategy Board for Germany. Lütgering previously worked at HIH GmbH and as an advisor for a prominent family in Munich with a strong presence in the U.S. Over the course of his career, Lütgering has worked on some of Germany's most prominent sales, completing more than 450 transactions totaling €36.8B in value.

"We are thrilled to welcome Marcus to lead our strategic expansion into Germany, which marks a significant milestone in our global collaboration across Investment Sales, Debt & Structured Finance, Occupier Services and other key areas," said Michael Lehrman, Newmark's President of the United Kingdom. "This expansion offers a unique opportunity for our UK and France teams to strengthen and expand client relationships in Germany, synergizing our top talent across Europe and North America to enhance our service offerings and solidify our position in the marketplace."

Newmark is the fastest-growing commercial real estate services company since 2011². Ranking as the third-largest firm in U.S. investment sales by MSCI and the second-largest firm in U.S. debt origination by Commercial Property Executive for 2023, the Company has nearly quadrupled its debt origination market share and more than doubled its investment sales market share since 2015³.

Having been active in key EMEA (including UK), cities for some time, Newmark has a growing presence in Germany and throughout Europe at large, establishing a regional headcount of approximately 1,000 professionals in less than three years and generating approximately $300 million in annual revenues from its EMEA operations over the twelve months ended June 30, 2024. 13.4% of Newmark's revenue over the same period was generated by the Company's non-U.S. businesses, up from less than 5% in 2021, largely driven by brokerage, sales and leasing advisory acquisitions and strategic hires throughout the UK. Most recently, the Company established its Paris, France flagship office. Since its March opening, the French team has welcomed 35 industry-leading commercial real estate professionals and expects to continue growing. Newmark's formal entrance into Munich builds off the firm's existing business activities, which include transactions and consulting advisory in major cities including Berlin, Düsseldorf, Essen, Frankfurt am Main, Herzogenaurach, Köln, Munich and Münster.

"Newmark's commitment to providing client-first service and hiring and developing the industry's best talent is second to none," said Lütgering. "I am incredibly honored to lead Newmark's expansion in Germany. This opportunity represents a significant milestone, for Newmark and also personally. I look forward to leveraging my experience in the industry to drive growth, innovation and exceptional client service in one of Europe's most dynamic markets while contributing to Newmark's global success."

"Our commitment is to offer a platform that attracts, enables and empowers our professionals to excel, while steadfastly pursuing our mission to unite the most talented and innovative individuals across the globe," added Gosin.

As Europe's largest economy, offering stability and resilience to economic fluctuations, the German market plays a critical role in the broader European commercial real estate environment. A major industrial and logistics hub with cities like Frankfurt and Berlin driving demand for office, corporate and tech spaces, Germany attracts significant international investment and was the second-largest market for commercial real estate transactions in Europe (after the UK) for the six months ended June 30, 2024 and calendar years 2023 and 2022, and was the largest in 2021⁴. Germany's leadership in sustainability and green building practices further enhances its appeal, making the market a key focus for long-term real estate growth and development.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of June 30, 2024, Newmark's company-owned offices, together with its business partners, operate from approximately 170 offices with 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark 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. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark 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's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

¹  Forbes The Global 2000 2024 published June 6, 2024 link.

² Newmark's 2011 revenues are based on unaudited full year 2011 revenues for Newmark & Company Real Estate, Inc. The peers included in the 2011- 2023 average are U.S. tickers CBRE, CIGI, JLL, MMI, and WD, (in USD) and U.K. ticker symbol SVS (in GBP). In addition, U.S. ticker CWK did not report revenues for periods before 2015 and is therefore excluded.

³ Investment sales market share is calculated by dividing Newmark's U.S. volumes by MSCI U.S. investment sales volumes for the relevant dates. Debt origination market share includes Newmark's non-originated mortgage brokerage volume plus GSE/FHA origination volumes. Newmark's debt market share are those volumes divided by the Mortgage Banker's Association commercial/multifamily mortgage origination volumes. The time frame for this U.S. market share data compares 2015 with the trailing twelve months ended July 30, 2024. Market share data is applicable to the U.S. only

⁴ According to MSCI Real Assets (formerly known Real Capital Analytics, or "RCA")

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SOURCE Newmark Group, Inc.

FAQ

Who is Marcus Lütgering and what is his role at Newmark (NMRK)?

Marcus Lütgering is a distinguished industry leader who has been appointed as Country Head for Germany at Newmark (NMRK). He will oversee Newmark's brokerage operations in Germany, including recruiting, strategic direction, business development, and client service.

What is Newmark's (NMRK) strategy for expansion in Germany?

Newmark (NMRK) aims to establish a presence in nearly all major German cities, replicating its leading occupier and investor advisory capabilities. The company is focusing on hiring top-tier professionals across various industry verticals and asset classes to capitalize on Germany's economic strength and investment opportunities.

How has Newmark's (NMRK) presence in Europe grown recently?

Newmark (NMRK) has rapidly expanded its presence in Europe, with approximately 1,000 professionals in the EMEA region generating about $300 million in annual revenues over the twelve months ended June 30, 2024. The company's non-U.S. business revenue has increased from less than 5% in 2021 to 13.4% in the same period.

What are Newmark's (NMRK) rankings in U.S. investment sales and debt origination for 2023?

For 2023, Newmark (NMRK) ranked as the third-largest firm in U.S. investment sales according to MSCI and the second-largest firm in U.S. debt origination according to Commercial Property Executive.