Established in 2022, NewQuest Properties is broadening its development capabilities by launching a multifamily residential division.
John Leonard, an industry veteran with three decades of experience in the property sector, will assemble and lead the new division for NewQuest. NewQuest owns and manages more than 12 million SF of mixed-use and neighborhood essential centers, many of which have excess land and redevelopment opportunities that will serve as the focus for the newly created multifamily division.
A real estate professional with over 30 years of commercial real estate and multifamily development and investment experience, John Leonard is one of the founding partners of NewQuest Residential, the new multifamily residential development arm of NewQuest Properties, a long standing privately held, multi‐ billion dollar commercial real estate development, investment, and brokerage company based in Houston Texas.
Prior to NewQuest Residential, John served as the Senior Vice President, Chief Financial Officer, and a Board Member of Sueba USA Corporation, a legacy Houston-based multifamily, commercial, retail, and single family real estate development company. In his many roles, John and his team led all Sueba’s financial, accounting, and legal activities required in the negotiation, structuring, and closing of complex real estate capital, financial, sales, development, and acquisition transactions. Such transactions have included debt and equity capitalizations, land and investment acquisitions, and dispositions totaling more than $3 billion in value in recent years. John had oversight and involvement in many of Sueba’s operational and production areas such as accounting, legal, tax, property management, human resources, IT and various project development, entitlement, and construction activities. Separate, single purpose affiliate companies were negotiated, formed, and capitalized together with third party lenders and equity partners under John’s oversight. Such entities, comprised of all different capital structures, carried out the real estate development and investment activities of Sueba. Also, within these entities John served as a general partner/managing member, as well as personally invested in several real estate joint ventures with Sueba and other developers and investors.
Prior to joining Sueba, John served as Vice President for First City Asset Servicing Company in Houston, responsible for the management and liquidation of the multi‐billion dollar real estate portfolio of Collecting Bank, N.A. John began his career in the Houston office of global CPA and professional consulting firm KPMG‐Peat Marwick, where he was responsible for providing auditing and financial consulting services to major clients, primarily in the banking, real estate, and financial services industries.
Graduating from the University of Southern Mississippi with a B.S. in Business and a major in Accounting, John is a Texas licensed Certified Public Accountant (CPA) and a Real Estate Broker licensed in Texas (LREB). John is a member of the American Institute of Certified Public Accountants (AICPA), the National Multi Housing Council (NMHC), the National Association of Real Estate Companies (NAREC), the Texas Society of Certified Public Accountants (TXCPA), the National Association of Realtors (NAR), and has served on the Board of the Katy Area Economic Development Council (KEDC), the Fort Bend Economic Development Council (FBEDC), and SEARCH Homeless Services in Houston.
Brad comes to us most recently from Hilltop Residential, where he was Vice President of Acquisitions and Asset Management, helping to acquire and manage Class A multifamily assets in Texas and the Southeast US. Prior to Hilltop he spent most of his career as a multifamily appraiser at Cushman & Wakefield, and also had professional experiences in mortgage brokerage and multifamily brokerage.
Brad holds a BBA from the University of Texas at Austin, where he majored in Real Estate and Finance.
Gary Harnist brings three decades of experience in construction and design management to his new position with NewQuest Properties. Mr. Harnist was previously Vice President of Construction & Design at Benchmark Hospitality of The Woodlands, overseeing and working hand in hand with Owners/Developers in developing new hotels, resorts, and for sale condos from the beginning of the site plan to finally opening the doors to guests. Prior to that, he was the Senior Vice President of Construction and Design for Gatehouse Capital of Dallas, overseeing mixed-use high-rise luxury hospitality, residential and retail projects. Mr. Harnist was responsible for the overall management of construction and design professionals including selection, contracting, oversight of all outside professionals, project cost analysis and managing all department staff. Mr. Harnist has held several executive management positions with the Chicago-based General Growth Properties and Remington Hotels and has owned his own Construction Management consulting firm. He has been a senior executive in several hospitality and mixed-use developments in Hollywood, Boston, New York, Washington DC, Las Vegas, and on the island of Antigua in the Caribbean, with each project’s value ranging from $100 million to $1.5 billion.
He is a graduate of the University of Texas at Arlington where he earned his Bachelor of Science degree in Architecture.
Steve Ritchey has been involved in finance and commercial banking for more than 48 years, primarily providing debt, treasury management, investment banking, and commercial banking products and services to the commercial real estate industry, including both developers and investors.
During the span of his career, Steve has worked for several of the nation’s leading commercial real estate lenders, including 24 years as the Senior Commercial Real Estate lender for Bank of America’s Houston regional office. In this position, Steve facilitated financing for numerous national commercial real estate developers and investors for several landmark projects throughout the United States.
Steve has provided financing for most product types within the commercial real estate including multifamily, retail, industrial and office. During his commercial banking career, Steve obtained his Series 7, 63 and 24 securities licenses and held memberships in various trade organizations including ULI and ICSC.
Following his career at Bank of America, Steve worked as a consultant to several Houston area companies assisting with identifying capital sources for both the construction and acquisition of commercial real estate before joining the NewQuest Multifamily division in 2022.