Dustin Stolly, vice chairman, Newmark Knight Frank’s debt/structured finance team
NEW YORK CITY—Dustin Stolly, who left JLL as a managing director of its Capital Markets group earlier this year, has joined Newmark Knight Frank as vice chairman and will help manage the brokerage’s New York City financing operations.
Stolly, a 14-year finance veteran who has executed more than $30 billion in capital market transactions in his career, will co-head Newmark Knight Frank’s New York City debt/structured finance team with vice chairman Jordan Roeschlaub.
“Choosing Dustin to co-lead our finance operations as we grow and continue our momentum was an easy decision,” states Newmark Knight Frank president James D. Kuhn, FRI. “We knew that he would be a cultural and functional fit for the firm. Dustin’s track record and relationships, coupled with his knowledge and experience makes him the best in the business; we are excited about the opportunities that lie ahead with the new leadership structure in place.”
Stolly, who was with JLL for 10 years and was involved in many of the brokerage’s high profile transactions, will join Newmark Knight Frank on July 18.
In a statement, Stolly said, “The opportunity to work with a hungry and well capitalized organization like NKF and collaborate with a living legend like Barry Gosin was an absolute no-brainer. I’m more than excited to be a part of this family.”
Earlier this month JLL announced it brokered $150 million in bridge financing on behalf of Glacier Global Partners to repay existing debt, complete construction and fund future leasing costs at the newly redeveloped 10 Jay St. development in Dumbo, Brooklyn. Stolly, who had left JLL by the time the deal was announced on July 11, worked on the deal along with JLL managing director Kellogg Gaines and EVP Aaron Niedermayer.
In late May, Stolly was part of a JLL team that brokered a deb financing package for Normandy Real Estate Partners in connection with its purchase of a stake of 43-10 23rd St. in Long Island City and planned capital upgrades to the property Normandy and partner Kassabian Realty plan to undertake at the approximately 195,000-square-foot mixed-used building.
In 2015, Stolly led a JLL team in advising Starwood Capital Group in its $500-million refinancing of its InTown Suites portfolio.