Global commercial real estate advisory firm Newmark Knight Frank (NKF) is pleased to announce that Scott Schafer, MAI, MRICS, has joined the firm's Valuation & Advisory (V&A) practice as part of its executive leadership team. NKF V&A provides access to a complete range of valuation and consulting services across its international platform. Schafer joins the firm in its Buffalo, New York office as Executive Managing Director and Head of Strategy.

Previously, Scott Schafer spent 12 years at Cushman & Wakefield standardizing and implementing new processes, designing risk management platforms and developing technology solutions that enhanced appraisal execution and product quality. Prior, Schafer was the Chief Appraiser for HSBC Bank, where he worked for 16 years overseeing collateral asset monitoring.

Schafer will have a key role in propelling the rapidly growing V&A practice to its next stage. He will be focused on the fast-changing technological landscape in the valuation industry and creating next generation execution and delivery strategies. He will also lead the firm's efforts to create a structured business unit that will serve a market segment that has been driven by rising appraisal thresholds this past year. He will oversee a product line known as "Evaluations."

Celebrating its 500th hire, NKF V&A now has a full complement of asset class specialists, geographic expertise and a full suite of professional services.

"We are thrilled to welcome Scott Schafer to the program at a nexus in this growth stage of our practice." said John Busi, president of NKF V&A. "This industry is on the cusp of seismic shifts driven by advancements in data collection and technology, and we are ready to catapult to our future state. Scott understands what the industry is producing today, and also recognizes what we're all capable of producing tomorrow. I am certain that he will create thoughtful and credible products that will expeditiously render results."

"I look forward to working with NKF's appraisal professionals," said Schafer. "Our aim is to continuously improve client satisfaction through industry-leading products and services."

About Newmark Knight Frank

Newmark Knight Frank, operated by Newmark Group, Inc. (NASDAQ: NMRK), is one of the world's leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF's 16,000 professionals operate from approximately 430 offices on six continents. NKF's investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.