Newmark Group, Inc. - NMRK STOCK NEWS

Newmark Group (Nasdaq: NMRK) has announced it will release its fourth quarter and full year 2024 financial results on Friday, February 14, 2025. The company will issue an advisory press release at 8:00 a.m. ET, followed by a conference call at 10:00 a.m. ET to discuss the results.

The full financial results will be available through the company's investor relations website and media page. A webcast of the conference call will be accessible through a dedicated link, with replay available from 1:00 p.m. ET on February 14, 2025, until February 14, 2026.

Newmark Group (NASDAQ: NMRK) has arranged the $360 million sale of Two Park Avenue in Manhattan, marking the largest advisor-led office transaction in New York City in 2024. Morgan Stanley sold the property to Haddad Brands, which plans to occupy part of the one-million-square-foot building and lease the remainder.

The 29-story Class A art deco building, located near Grand Central and Penn Station, features amenities including a 27th-story penthouse lounge, outdoor terrace, ground-floor lobby, conference center, and bike parking. The transaction aligns with a growing trend of occupiers becoming owners, with occupier-owner transactions increasing 36% year-to-date through Q3, as companies opt to purchase properties at discounts rather than lease.

Newmark Group (NASDAQ: NMRK) has arranged a $600 million construction financing for a 50 megawatt build-to-suit data center development in Northern Virginia. The project is being developed by Blue Owl Real Estate, Chirisa and PowerHouse Data Centers, and will be leased to CoreWeave, a hyperscale graphics processing unit provider.

The development is located within the 300+ acre Chirisa Technology Park in Richmond and is expected to deliver initial capacity in 2025. The facility will feature state-of-the-art fit-outs and access to highly redundant fiber networks to serve customers throughout the east coast. The loan was provided by a syndicate led by Societe Generale.

Newmark Group (NMRK) has arranged a significant $400 million credit facility for PORT 32 Marinas. The financing, provided by Austria-based BAWAG Group, will be used to refinance PORT 32's existing portfolio of coastal marinas and fund future marina acquisitions. The deal was orchestrated by Newmark's senior executives Jordan Roeschlaub, Chris Kramer, and Jonathan Firestone, highlighting the strong demand for premier coastal marinas in the Eastern United States.

Newmark Group (NMRK) has arranged a landmark $525 million refinancing for a portfolio of six apartment properties operated by Sentral on behalf of ICONIQ Capital. The first-of-its-kind single-asset, single-borrower CMBS loan, provided by Deutsche Bank and Goldman Sachs, covers 1,790 units across major urban markets. 25% of the units operate under a 'flexible living' strategy, offering furnished accommodations for short- or mid-length stays.

The portfolio includes properties in Denver, Chicago, Nashville, Miami, and Austin. Sentral, established in 2019, manages over 10,000 units for ICONIQ and other institutional owners, with a track record of outperforming traditional apartment operations. This transaction represents a significant validation of the flexible living model as an institutional asset class.

Newmark Group (Nasdaq: NMRK) has been awarded the title of world's Best Commercial Real Estate Consultant by Euromoney, alongside three other global honors including recognition in Latin America. This achievement highlights Newmark's position as a leading commercial real estate advisor serving institutional investors, global corporations, and property owners/occupiers.

CEO Barry Gosin emphasized the significance of this client recognition, attributing the success to the company's commitment to recruiting top industry talent and delivering superior service and results. The company maintains its focus on providing innovative and strategic solutions in the commercial real estate sector.

Newmark Group (NMRK) has arranged significant refinancing deals totaling $1.75 billion for two prestigious Florida resorts owned by Fontainebleau Development. The financing includes a $1.2 billion loan for Fontainebleau Miami Beach and a $550 million loan for JW Marriott Miami Turnberry Resort & Spa, secured through Goldman Sachs and J.P. Morgan.

The Fontainebleau Miami Beach, a 22-acre property with 1,594 guest rooms, features 11 pools, nine dining outlets, and 200,000 square feet of meeting space. It recently completed a new convention center in December 2024. The JW Marriott Miami Turnberry Resort & Spa, spanning 270 acres, includes 685 rooms, two golf courses, and 120,000 square feet of meeting space, following a 2019 renovation.

Newmark Group (NMRK) announced that Executive Chairman Howard W. Lutnick has been nominated by President Donald J. Trump to serve as the 41st U.S. Secretary of Commerce. Upon Senate confirmation, Lutnick will step down from his positions at Cantor, BGC, and Newmark, and divest his interests in these companies to comply with government ethics rules. The divestment is not expected to involve open market share sales. Barry Gosin will continue as CEO, with no changes expected to Newmark's existing corporate structure.

Newmark has facilitated the sale of Preston Commons, a three-building, 427,799-square-foot office campus in Dallas' Preston Center submarket. The property, which is 93% leased, represents the largest office sale in Texas in 2024. The campus has received $24 million in capital investments over the last decade for luxury renovations and enhancements. Located at 8111, 8115, and 8117 Preston Road, the property features high-end amenities including a modern tenant lounge, state-of-the-art board room, upscale restaurant, and outdoor recreational space.