CBRE’s Saddle Brook office at Park 80 West in Saddle Brook — Courtesy: CBRE
By Joshua Burd
CBRE has announced two key hires for its top investment sales team in the region, as it looks to expand its foothold in the multifamily sector and other asset classes.
Both Fahri Ozturk and Richard Gatto, who were previously with Marcus & Millichap, join CBRE’s Tristate Institutional Properties Group as senior vice presidents. Based in Saddle Brook, they will work on the team of brokers led by Jeffrey Dunne, which specializes in the sale and recapitalization of office, apartments, retail, industrial and development sites in the New York tristate region.
“Fahri and Rich are two stars on the rise in our industry and we are extremely pleased to have them join our team,” said Dunne, a vice chairman with CBRE. “Even during the many challenges the industry faced during the pandemic, Fahri and Rich were prolific in the type of real estate deals they were able to complete in the service of their clients.”
Ozturk and Gatto both joined Marcus & Millichap in 2016 and were among the firm’s top-producing brokers in New Jersey, developing ties to many multifamily owners and operators. In 2020, they led a team that closed $205 million in transaction volume in the midst of the pandemic, including several high-profile apartment deals.
“Our Institutional Properties Group services a prestigious client base of institutions, corporations, private investors, developers and REITs and we pride ourselves on having the best people on our team,” said Jeremy Neuer, an executive vice president with CBRE. “Fahri and Rich will not only enhance our brand, but increase our market share in the multifamily space where many investors are highly focused.”
Prior to joining Marcus, Ozturk was a director with Cushman & Wakefield, where he focused on investment sales in Hudson County, the news release said. His 16-year career has also included positions at commercial real estate firms including Thor Equities, Macklowe Properties and Broadway Partners.
Ozturk holds a master’s in real estate finance and investments from New York University and a bachelor’s in finance and investments from Baruch College’s Zicklin School of Business.
“Our clients have grown tremendously within the last several years and our new partnership with CBRE will enable us to support our clients continued growth,” Ozturk said. “CBRE’s unmatched resources and partnering with Jeffrey Dunne, a true market leader, is a big win for our clients.”
Gatto, whose real estate and finance career spans two decades, is an active member of the National Multi Housing Group, the New Jersey Apartment Association, the New Jersey Builders Association and the National Association of Homebuilders.
“We’re extremely excited for the opportunity to join CBRE and partner with two investment sales legends,” Gatto said. “Jeff and Jeremy have built one of the top-producing investment sales teams worldwide, having completed in excess of $35 billion in sale transactions. This partnership allows us to enhance the value and scope of services we can provide our clients as they continue to grow in the marketplace.”