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Stone Promoted to President of Cushman & Wakefield’s Multifamily Asset Services Platform

Michael Boonshoft • 10/12/2022
Rick Graf to retire at year’s end after 48 years in the multifamily industry

CHICAGO, October 17, 2022 – Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, announced that Woody Stone will serve as President of U.S. Multifamily Asset Services after Rick Graf retires on December 31st.
Woody Stone Headshot
In his new role, Stone will provide strategic oversight for the vision and long-term growth of Cushman & Wakefield’s Multifamily Asset Services platform while managing a spectrum of assets for major institutional clients across multiple states. Stone will report to Marla Maloney, President, Americas Services.

“Rick has set the bar for success in multifamily management very high. He was a steady-handed leader during the pandemic and led his team to accelerate many new measures, like touchless technology and self-guided tours,” said Maloney. “Woody is a tremendous leader who will be able to leverage and build on Rick’s outstanding work to the benefit of our clients.”

With more than 20 years of industry experience, Stone has led various departments including marketing, training, procurement, Ancillary Services, and revenue management. Throughout his 14-year tenure with Pinnacle and Cushman & Wakefield, Stone has sought to drive value for clients through innovative, industry-leading solutions and practices. Most recently as Executive Managing Director, Stone provided oversight of national operations and client services for the platform.

Graf’s retirement comes after 48 years of multifamily industry experience. Since 2008, he has been at the helm of one of the leading third-party multifamily management firms in the nation with 180,000 units across 32 states and Washington, D.C. His legacy includes serving as a former professor of real estate in the Dallas County Community College District and serving as the Chairman of the National Apartment Association (NAA) in 2021.

“I have always approached business as a builder – my father and grandfather were physical builders in the development industry. That ethos is incredibly important to building business and relationships. I am confident that Woody will continue leading and developing this platform with that core tenet,” said Graf.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In 2022, the firm reported revenue of $10.1 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more. For additional information, visit

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