Newmark Arranges $400 Million Financing Facility for PORT 32 Marinas

Rhea-AI Summary

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.

Positive

• Successfully arranged a large $400M financing deal, demonstrating Newmark's capability in major transactions
• Expansion of business activities in the marina financing sector
• Strategic positioning in the growing coastal marina market

Negative

• None.

Insights

Financial Analyst

The $400 million credit facility arrangement represents a significant deal for Newmark, showcasing their ability to secure major financing in the specialized marina sector. This transaction is particularly noteworthy as it demonstrates strong institutional interest in recreational marine assets, a growing alternative real estate segment. The involvement of BAWAG Group, an Austrian bank, indicates healthy international investment appetite for U.S. marine infrastructure. The facility's dual purpose - refinancing existing assets and funding future acquisitions - suggests PORT 32 Marinas is positioning for strategic growth in the coastal marina market. For Newmark, this deal should generate substantial fee income and reinforces their position in the commercial real estate financing space, potentially leading to more similar mandates.

Market Research Analyst

The marina sector has emerged as an attractive alternative real estate investment category, driven by supply of waterfront properties and growing demand for recreational boating facilities. PORT 32's substantial credit facility indicates strong market fundamentals in the Eastern U.S. coastal markets. The willingness of a European bank to provide such significant financing suggests confidence in both the sector's stability and growth potential. This transaction could signal increased institutional investment interest in marina properties, potentially leading to more consolidation and professional management in what has historically been a fragmented market. The deal's structure, allowing for future acquisitions, points to expectations of continued market expansion and value appreciation in prime coastal locations.

NEW YORK, Dec. 12, 2024 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces that the firm has arranged a $400 million credit facility for PORT 32 Marinas to refinance its existing portfolio of coastal marinas, and to fund the future acquisition of marinas. Newmark's Co-Head, Global Debt & Structured Finance Jordan Roeschlaub and Vice Chairman Chris Kramer, in collaboration with Co-Head, Global Debt & Structured Finance Jonathan Firestone arranged the financing, which was provided by the Austria-based bank, BAWAG Group.

"This funding underscores the robust and sustained demand for premier coastal marinas throughout the Eastern U.S.," said Roeschlaub. "The transaction reflects a forward-looking strategy that leverages the unique appeal of coastal marinas as essential infrastructure for both recreation and commerce and is a testament to both the strength of the asset class and its long-term growth potential."

About PORT 32 Marinas
Based in Charleston, South Carolina, PORT 32 is a leading owner, operator and developer of dry and wet slip coastal marina properties. PORT 32 provides expertise in the development and management of marina assets to bring customers an unparalleled level of service within the industry. PORT 32 owns and operates a growing collection of Class A marina assets in premier markets. For more information, please visit https://port32marinas.com.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2024, Newmark generated revenues of approximately $2.6 billion. As of that same date, Newmark's company-owned offices, together with its business partners, operated from nearly 170 offices with more than 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

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SOURCE Newmark Group, Inc.

FAQ

What is the size of the financing facility Newmark (NMRK) arranged for PORT 32 Marinas?

Newmark arranged a $400 million credit facility for PORT 32 Marinas.

Who provided the $400M financing facility in Newmark's (NMRK) PORT 32 deal?

The financing was provided by BAWAG Group, an Austria-based bank.

What is the purpose of the $400M financing facility arranged by Newmark (NMRK)?

The facility will be used to refinance PORT 32's existing portfolio of coastal marinas and fund future marina acquisitions.

Which Newmark (NMRK) executives were involved in arranging the PORT 32 financing?

Jordan Roeschlaub (Co-Head, Global Debt & Structured Finance), Chris Kramer (Vice Chairman), and Jonathan Firestone (Co-Head, Global Debt & Structured Finance) arranged the financing.