Real estate brokerage Newmark posted double-digit gains in property sales and lending revenue, leading CEO Barry Gosin to declare the commercial real estate industry is on the rebound.

“We’ve passed the inflection point," Gosin told analysts during the company’s earnings call. "We hit the trough and now, we’re on our way to better times. Interest rates have stabilized. The ecosystem is designed to buy property, and a whole industry is there to invest dry powder. Investors are starting to feel better about the opportunities.”

The New York-based brokerage said revenue rose 8.1% to $633.4 million from the prior-year quarter, driven by an 18% jump in investment sales revenue and 46% growth in mortgage brokerage and debt placement fees, as well as gains in management and servicing fees.

Newmark also anticipates a burst of capital markets activity as up to $2 trillion in commercial real estate loans come due in coming years, with nearly $400 billion in investor capital ready to be spent on real estate.

Newmark joined larger rivals CBRE, Cushman & Wakefield and Colliers in expecting a rise in sales and financing should the U.S. central bank cut interest rates. Federal Reserve officials signaled this week that a reduction could some as soon as September.

For Newmark, the increases in fee revenue from sales, leasing and mortgage origination and servicing drove a $14.3 million profit for the quarter, more than double the $6.4 million profit in the year-prior quarter.

Newmark is the latest brokerage to report a second quarter profit that is at least twice its year-earlier figure, following similar positive news from Colliers and Cushman & Wakefield.

The brokerage's office leasing revenue was up 16% year over year, led by deals with tenants in the technology and financial services sectors. The growth was bolstered by more companies committing to bringing employees back to the office, Newmark officials said, and by office-using jobs growing at a higher rate than the broader employment market.

Newmark completed a $75 million cost savings program in the quarter to reduce long-term expenses and streamline operations. The company reported that compensation expenses rose in the quarter as it paid more in transaction commissions and hired additional brokers and other sales-generating professionals.

Gosin said he was pleased with the progress of Newmark's international expansion in Europe and the United Kingdom. The company four months ago opened an office in Paris and hired industry veterans Francois Blin and Emmanuel Frénot to lead a team to initially focus on capital markets.

Newmark also added Antoine Salmon and Vianney d'Ersu as co-heads of retail leasing and has added office leasing brokers, tenant representation specialist and other professionals over the past few months.

"We have 30 to 40 people in Paris and expect to grow that in the next 12 months," Gosin said. "We’ve hired the number one and number two teams in capital markets, retail brokerage, and we're very excited about France."

Newmark is also making progress in its United Kingdom operations. The brokerage recently added Steve Williamson as managing director and Matthew Kang as an associate in debt and structured finance to its capital markets team in London that is part of the brokerage's United Kingdom and Europe, Middle East and Africa division.

In the United Kingdom, "we've built a very solid foundation in a relatively short period in the 24 months since we broke off from our alliance partner there, and we’re going to do the same throughout Europe," Gosin said.

The last two major brokerages to report second-quarter results — JLL, the world's second-largest brokerage, and investment brokerage Marcus & Millichap — are slated to release earnings on Aug. 6 and Aug. 7.