Atlanta – June 9, 2015 – Hodges Ward Elliott (“HWE”), the leading independent hotel brokerage firm in the world, with offices in Atlanta, Los Angeles and London, is pleased to announce the firm’s expansion into commercial investment sales with the addition of our New York office, headed by Managing Director, Will Silverman.
Mr. Silverman is joining HWE from Savills Studley in New York, where he was responsible for commercial investment sales activity in the New York market, with a focus on the sale and recapitalization of equity and debt relating to office, residential, development and retail assets. Notable transactions include twice selling the office portion of 100-104 Fifth Avenue, the record-breaking sale of 111 Kent Avenue in Brooklyn and the sale of the retail at 465 Broadway three times in four years. During his tenure at Savills Studley, Will closed approximately $6 billion of sales transactions comprising nearly 18 million square feet. Prior to joining Savills Studley in 2003, Will worked for Insignia/ESG and J.P. Morgan Securities.
After careful and thoughtful diligence, HWE is branching out beyond hospitality with the addition of Will Silverman, one of the leading commercial real estate investment sales professionals in New York. Bill Hodges, President and CEO of HWE said that more than half of the clients who maintain a large hotel exposure trade in commercial real estate assets as well. “To better serve our clientele, we committed our firm to expand into the commercial arena.”
Commercial real estate is increasingly imbued with hospitality attributes. Silverman said, “As I look around, I see every aspect of the business becoming hospitality-oriented. Office developments like 425 Park Avenue and 285 Madison Avenue feature dining amenities, shared outdoor spaces, and tenant gyms. Residential developers are famously in an amenity arms race, as new apartment buildings are often actually branded by hospitality companies. Even the retail industry has become more geared towards hospitality with an emphasis on “lab” stores, as opposed to pure merchandising. This all makes it logical to expand from a hospitality platform." Silverman went on to state, "It goes without saying, I am forever grateful to Woody Heller, who has been a spectacular partner, mentor and friend. I wish him and Savills Studley further success.”
With forty years of history, HWE’s choice for the Managing Director to launch this expansion was critical. Mark Elliott, Partner and Senior Managing Director, explained, “to find the right executive to lead the New York office I asked multiple owners who was the brightest and most talented commercial real estate broker in New York and repeatedly the response was Will Silverman. Will’s methodology is more than just running a process, but one of seeing the possibilities of real estate’s potential and then creatively and persuasively explaining such a perspective, which is a perfect fit for Hodges Ward Elliott’s approach.”
Despite numerous acquisition offers over the years, HWE has maintained its independence and focused our efforts on delivering the highest quality service to our clients. As competing real estate brokerage firms have merged, acquired and grown in an effort to “dot the map”, HWE has continued to develop and employ our expertise globally having transacted more than 50 percent of its volume in 2014 and 2015 with international buyers.
About Hodges Ward Elliott:
Hodges Ward Elliott, founded in 1975, is the leading independent hotel brokerage and investment-banking firm in the world providing total capital solutions, including hotel sales, recapitalizations and debt placement for our clients. Over the past 5 years, HWE has sold or financed more than $17 billion of hotels and resorts across the U.S. and Europe including more than $2.4 billion since January 1, 2015. The opening of HWE’s New York office and commercial investment sales practice will expand the firm’s service lines to include office, multifamily, retail and land transactions.