Newmark announced that it has finally formalized its single-family rental group, which will focus on investment sales, programmatic joint-venture equity placement and debt and structured finance, according to a press release.

With Newmark's significant presence in the multifamily and alternative real estate sectors, and a growing institutional interest in the SFR space, formalizing this practice was a logical next step as we continue to enhance our full-service capital markets offerings to our clients," the release quoted vice chairman Chad Lavender who, with vice chairman Ryan Maconachy, is leading the new group which will be part of Newmark's multifamily capital markets group.

"With increased rental housing demand, renters are seeking more space and the privacy of a detached home without the demands of a mortgage, especially considering interest rate increases. This, in combination with the rise in SFR-earmarked capital, underscores the expectation that SFR supply will increase in coming years," said director Leland Manning, who will work in the group.