The Real Deal New York

WATCH: Top CRE brokers talk about the impact of brokerage IPOs

By TRD Staff | May 24, 2018 08:30AM

Now that Newmark Group is trading on Wall Street and Cushman & Wakefield is headed toward an IPO, pretty soon all of the big commercial real estate brokerages in New York will be public companies.

“I think other brokers have benefited from these public companies and their significant war chests,” Dustin Stolly, co-head of the debt and structured finance team at Newmark, said during a panel on commercial brokerage at The Real Deal’s 11th Annual New York Showcase.

Stolly joined Peter Riguardi, president of the tri-state region for JLL, and Cushman’s Joanne Podell in discussing the impact being public has on the world of brokerage.

Riguardi said he thinks firms like CBRE and JLL “have another round of big consolidation in them.”

Watch the full panel discussion above.