Newmark Vice Chairman Patton (Pat) K. Jones is responsible for the Austin and San Antonio conventional multifamily capital markets business including land and multifamily investment sales, and debt and equity.

Suburban Austin has seen a major influx of residents post-COVID-19. The 2020 business relocations and expansions in the region resulted in a record-breaking 21,864 jobs announced. Many of these residents intended to purchase a single-family home but realized that homes are scarce with more than a 12 month waiting period. With ample green space and larger floor plans (when compared to central/downtown Austin), suburban apartment communities' occupancy and rental rates have benefitted. Through Jones' involvement in numerous Q4 2020 suburban multifamily dispositions, he served his clients' best interests as well as presented an opportunity for investors to capitalize on a trend in multifamily. New owners bring fresh ideas, standards and customer service to building residents, elevating the multifamily experience to meet the requirements of savvy renters in Austin's popular suburban communities.

The transactions that Pat completed in 2020 leverage Newmark's growing capital markets reach, nationally and worldwide. Despite the pandemic, Jones was able to generate unprecedented investor interest for listings. To meet the challenge of COVID-19 touring restrictions, Jones, with the support of Newmark Marketing, provided investors with virtual tours and marketing literature with ample property imagery. Pat's aim is to serve clients' best interests as well as presenting an opportunity for investors to capitalize on one of the best-performing markets in the nation, working on behalf of his client to identify the right buyer and convey the value to investors.