Newmark Group, Inc. - NMRK STOCK NEWS

Newmark has secured a $150 million loan for the financing of 295 Fifth Avenue in Manhattan, representing a significant investment in the 19-story, 710,000-square-foot trophy office tower by Tribeca Investment Group, Meadow Partners, and PGIM Real Estate. Led by Vice Chairmen Dustin Stolly and Jordan Roeschlaub, the financing underscores the property's appeal amid market uncertainties. Recent renovations enhance its attractiveness, particularly in the Midtown South submarket, which is experiencing a post-COVID

Newmark has arranged $360 million in financing for a 50-asset, 3.9 million-square-foot self-storage portfolio on behalf of Angelo Gordon and Andover Properties. The portfolio is well-leased, located in primary markets across the U.S. Key executives involved include Jordan Roeschlaub and Dustin Stolly. Goldman Sachs provided the loan, emphasizing the partnership's capability in driving cash flow growth. Angelo Gordon has managed $52 billion in investments, focused on value-added strategies.

Newmark Group, Inc. (Nasdaq: NMRK) reported its financial results for Q3 2022, with revenues reaching nearly $3.2 billion for the twelve months ending June 30, 2022. The company provides a comprehensive suite of services across the commercial real estate sector, operating from approximately 170 offices globally. A conference call is scheduled for 10:00 a.m. ET today to discuss these results and offer forward-looking insights. The full financial results, including dividend declaration details, are accessible on their website.

Newmark Group, Inc. (Nasdaq: NMRK) announced the appointment of Angie Leccese as the new Chief Marketing Officer. Leccese, with over 20 years in marketing within commercial real estate, will manage Newmark's marketing strategy, focusing on growth through content marketing and sales enablement. She previously held a Vice President role at CBRE and has extensive experience at Cousins Properties and Colliers International. CEO Barry Gosin expressed confidence in Leccese's ability to enhance Newmark's business development and marketing efforts.

Newmark Group (Nasdaq: NMRK) announced that it will release its third quarter 2022 financial results on October 28, 2022, before the market opens. The conference call to discuss these results is scheduled for the same day at 10:00 a.m. ET. An advisory press release will be issued at 8:00 a.m. ET to provide access to the full financial results. For the twelve months ending June 30, 2022, Newmark generated revenues of over $3.2 billion.

Newmark Group, Inc. (Nasdaq: NMRK) has successfully completed the sale of the Western Canadian Continuum of Care Portfolio for over $300 million. This portfolio includes eight properties with 1,092 suites aimed at seniors housing. The transaction was between H&H Total Care Services and a joint venture of Axium Infrastructure and Optima Living. The properties, with an average age of 10 years, offer assisted and independent living options and development potential for over 360 additional units. The deal was executed amid a changing interest rate environment, requiring extensive coordination by Newmark's Seniors Housing group.

On September 28, 2022, Newmark Group, Inc. (NMRK) announced securing $170 million in financing for a 33-asset self-storage portfolio covering 1.8 million square feet, on behalf of Centerbridge Partners and Merit Hill Capital. This portfolio is located in strong markets across 16 states and is well-leased, managed by CubeSmart and Extra Space. The financing was spearheaded by Newmark’s Jordan Roeschlaub and Dustin Stolly, with Bank of America providing the loan. Newmark reported revenues nearing $3.2 billion for the year ending June 30, 2022.

Newmark has successfully arranged a $210 million financing facility for a 904-key portfolio of four citizenM hotels under construction. Key personnel involved were Vice Chairmen Dustin Stolly and Jordan Roeschlaub, along with Senior Managing Director Nick Scribani. The hotels are strategically located in high-demand submarkets, backed by significant investments from GIC and APG Asset Management. Each hotel aims to cater to modern travelers with state-of-the-art amenities, supporting citizenM's rapid expansion in the U.S. and enhancing its brand visibility.

Newmark has successfully arranged a $462.5 million refinancing loan for SpareBox Storage's national portfolio, which includes 101 assets covering 6.9 million square feet across eight states. This transaction was facilitated by strong sponsorship from SpareBox and equity commitment from Davidson Kempner Capital Management. Newmark’s Debt and Structured Finance team, led by Dustin Stolly and Jordan Roeschlaub, collaborated closely with Bank of America for this refinancing. SpareBox is a leading self-storage operator with a tech-driven platform managing approximately 37,362 units.