NewQuest Snags Industry Vets To Launch New Investment Sales Team
NewQuest Properties is entering unchartered waters again.
The Houston-based firm has hired David Luther as executive vice president and Kelley Workman as vice president for a new diversified investment sales team. Both have decades of real estate experience and were poached away from Marcus & Millichap Houston. Morgan Hansen, who has previously worked with the duo, is also moving over to NewQuest as a senior associate.
"NewQuest prides itself on attracting and retaining the best talent in our industry," NewQuest Chief Operating Officer Katherine Hatcher said in a release. "With such a highly respected and accomplished pair in David and Kelley joining our team of high-caliber brokers, we're continuing to redefine and expand our service lines on a national platform."
The privately owned company has specialized in development, land and retail acquisitions, leasing and property management and owns a $2B portfolio across 60 properties in Texas and Louisiana. The new investment team will allow the company to tap into new product types, the company said in a release.
With more than two decades at Marcus & Millichap, Luther served as senior vice president of investment and closed on more than $750M in commercial sales in retail, medical, office and industrial assets. He adds underwriting skills and capital markets knowledge to the team.
"There comes a time when you've seen it, done it and feel it's time for a new adventure," Luther said. "Yet, it was a difficult decision to make. I needed to be confident there would be a superior back-end support system in place to grow my team's sales platform and service line in diverse product types, not just retail. NewQuest is making the investments that we'll need to build and grow this team."
Bringing nearly three decades of real estate experience, Workman was a senior associate at Marcus & Millichap. She joined the firm in 2014 and worked under the late Jerry Goldstein before moving to Luther's team last year. Workman secured more than $200M in single- and multi-tenant retail, medical and office product.
"Becoming part of the NewQuest team provides a truly comprehensive platform under one roof, which I didn't have access to at Marcus & Millichap," Workman said. "I am ready for this new opportunity and the expanded ability to be an adviser to my clients from development to leasing and management, acquisitions and disposition in all asset classes."
The investment sales division is the second major expansion for NewQuest in the past few weeks. The firm also added a healthcare and wellness group, led by NewQuest Vice President Ashley Strickland.
"The real estate environment is constantly evolving," Hatcher said. "We, at NewQuest, believe these two expansions will be the catalyst for showing the industry the depth of our capabilities. We are investing in our future as a full-service firm and ensuring our success for years to come."
