Newmark Group, Inc. announces the appointment of Newmark's Sharon Karaffa as President, Multifamily Debt & Structured Finance. Karaffa will serve next to Chief Strategy Officer and President, Multifamily Capital Markets Jeff Day through year-end, concurrent with Day's planned retirement effective December 31, 2023. Karaffa will lead Multifamily Capital Markets in partnership with Chad Lavender, President of North America Capital Markets, who will serve as interim Head of Multifamily Investment Sales.

In her new role, Karaffa will oversee all aspects of Multifamily Debt & Structured Finance, focusing on revenue growth, business development and client and lender relationships while also leading Newmark's Fannie Mae, Freddie Mac and FHA lending platforms. Additionally, Karaffa is responsible for developing synergies, cross-collaboration and cross-selling among Newmark's Multifamily Capital Markets' Investment Sales and Debt & Structured Finance teams as the company continues to grow one of the largest Multifamily Capital Markets platforms in the U.S., which is top two for multifamily investment sales and a top lender for Freddie Mac and Fannie Mae. Karaffa has over 20 years of experience, the majority of which has been in multifamily finance. Under her leadership, over the past three years, Newmark's Multifamily Capital Markets platform experienced a 28 percentage point increase in the multifamily investment sales volume financed through its debt platform and a nearly 60 percent increase in multifamily debt production volume overall.

Before joining the Company in 2017, Karaffa was the Director of Priority Borrower Relationships and Head of Structured Transactions for Fannie Mae Multifamily, where, during her governance, credit facilities experienced triple-digit growth. Earlier in her career at Fannie Mae, Karaffa managed the acquisition of seasoned loan portfolios and various lender relationships and led the Financial Planning & Analysis division. Lavender will focus on the development and execution of Multifamily Capital Markets Investment Sales strategy, managing senior relationships with key clients and capital sources, portfolio advisory, recruiting and expanding products and services.

With more than 15 years of commercial real estate experience, Lavender, who joined Newmark in 2019, was promoted to President of North America Capital Markets earlier this year. He has completed investment sales, recapitalizations, debt and joint venture equity transactions totaling more than $37 billion in value throughout the U.S. During Day's career at Newmark, he led the growth of the Multifamily Capital Markets business to over $70 billion in annual transaction volume and built a servicing and asset management portfolio of over $177 billion. He was a member of the Newmark Executive Committee and led several strategic Company initiatives, including the build-out of the Newmark offshoring platform, revitalizing several operating businesses and driving the strategic technology plan.