Newmark is joining the single-family rental (SFR) space. The company announced its SFR group in late 2022; it will be led by Vice Chairmen Chad Lavender and Ryan Maconachy and be part of the Multifamily Capital Markets group.

“With Newmark’s significant presence in the multifamily and alternative real estate sectors, and a growing institutional interest in the SFR space, formalizing this practice was a logical next step as we continue to enhance our full-service capital markets offerings to our clients,” Lavender said in a release.

The new group will concentrate on investment sales, joint-venture equity placement and debt and structured finance.

“With increased rental housing demand, renters are seeking more space and the privacy of a detached home without the demands of a mortgage, especially considering interest rate increases,” said Director Leland Manning. “This, in combination with the rise in SFR-earmarked capital, underscores the expectation that SFR supply will increase in coming years.”