UPDATED, July 11, 11:53 a.m.: Bill Fishel, the co-head of JLL’s capital markets team in Los Angeles, has left the brokerage to join Newmark’s national rival team. Fishel announced his move on LinkedIn on Friday.
Fishel, who will still be based in L.A., will work under Chad Lavender, Newmark’s head of capital markets for North America, according to a Newmark release.
“Newmark isn’t the MonStars: it’s the Dream Team,” Fishel said on LinkedIn, referring to the team of aliens in the 1997 movie “Space Jam. “
Jeff Sause and Jeff Bramson have served alongside Fishel running JLL’s capital markets team in L.A. and will continue to run the capital markets team as usual, according to JLL.
Fishel joined JLL’s capital markets predecessor HFF in 2009. JLL acquired HFF and its more than 1,000 employees in 2019.
Fishel and his team at JLL arranged financing for a number of large L.A. projects. In November, the team arranged $90 million in construction financing for the 42-acre West Harbor project in San Pedro, on behalf of borrowers The Ratkovich Company and Jerico Development.
Earlier this year, Newmark made two other large additions to its capital markets team — Doug Harmon and Adam Spies. The New York-based brokers jumped from Cushman & Wakefield in February.
The hires come as investment sales have dwindled in light of rising interest rates.
Newmark was the fifth largest loan originator for commercial and multifamily properties in 2022, behind JLL, CBRE, Meridian Capital Group and Eastdil Secured, according to data from the Mortgage Bankers Association.