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CBRE brokers, Newmark at impasse over what they can do for work
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Brokers who jumped firms can t work in Colorado for a year
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Brokers Terrance Hunt, Shane Ozment and Chris Cowan, meanwhile, have countersued Newmark in state court in Denver, saying the 2014 agreement was superseded by a later one and is unenforceable anyway.
Hunt and Ozment handle many of the region’s high-eight-figure or nine-figure apartment complex sales, including the state’s largest-ever such transaction in 2016. Cowan specializes in the sale of sizable tracts of urban and suburban land, typically for multifamily or mixed-use development.
All three brokers joined Newmark in 2014, when its parent company acquired their former employer, Apartment Realty Advisors (ARA).
CBRE announced the hiring of Hunt, Ozment and Cowan publicly on the morning of May 19. Newmark’s lawsuit in New York, which also names CBRE as a defendant, was filed hours later.
Newmark, top multifamily brokers trade lawsuits over move to CBRE
Courtesy of CBRE)
Newmark has sued three high-powered Denver multifamily brokers that last week jumped to CBRE in state court in New York, alleging they are violating non-compete agreements hammered out during a 2014 acquisition and have “looted” the firm.
Brokers Terrance Hunt, Shane Ozment and Chris Cowan, meanwhile, have countersued Newmark in state court in Denver, saying the 2014 agreement was superseded by a later one, and is unenforceable anyway.
Hunt and Ozment handle many of the region’s high-eight-figure or nine-figure apartment complex sales, including the state’s largest-ever such transaction in 2016. Cowan specializes in the sale of sizable tracts of urban and suburban land, typically for multifamily or mixed-use development.
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