Newmark has hired away one of Eastdil Secured’s top dealmakers as it continues to pick off talent from its competitors.
Jonathan Firestone joined Newmark as co-head of the brokerage’s debt business, sources told The Real Deal. He will work alongside Doug Harmon and Adam Spies, as well as a core group of other Eastdil alumni who have coalesced at Newmark in recent years.
“There’s a lot of energy around the platform and there’s an opportunity to build a national and ultimately global debt capital markets business,” Firestone said of the reason for his move.
He’ll be co-head of the debt team alongside Newmark’s Jordan Roeschlaub and Dustin Stolly.
Harmon said Firestone’s addition is a key component of the business they’re building.
“The lines between debt and equity are becoming increasingly blurred as the market continues to face headwinds, and asset sales are being driven by lenders, with loan sales, rescue equity and workout transactions becoming a larger portion of the market,” Harmon said.
Real Estate Alert first reported news of the hire.
Newmark recently brokered Signature Bank’s $60 billion portfolio of loans.
Firestone, based in Los Angeles, spent more than 20 years at Eastdil Secured. His exit is the second notable departure in recent weeks. Steven Binswanger, a protégé to Roy March who focused on client relationships, left for JLL in December.
Newmark has been aggressive on the hiring front after luring Harmon and Spies away from Cushman about a year ago.
The company recently brought on Marcus & Millichap broker Robbie Ferman, and in December hired a group of Cushman brokers led by Dan O’Brien.
In Los Angeles, the company hired JLL’s co-head of capital markets Bill Fishel.
On the office-leasing front, Newmark recently hired JLL brokers Steven Rotter and Howard Hersch, Commercial Observer reported.