Newmark Group, Inc. - NMRK STOCK NEWS

Newmark Group has appointed Jason McGruder as the new Head of Investor Relations. McGruder, an industry expert with nearly two decades of experience, will enhance communication with the investment community and promote the company's strategy and financial performance. Mike Rispoli, CFO of Newmark, emphasized McGruder's leadership skills are crucial for the company’s growth and ongoing global expansion. Newmark reported revenues exceeding $1.9 billion in 2020, showcasing its stature in the commercial real estate sector.

Newmark Group, a leading commercial real estate services company, announced that CEO Barry M. Gosin will participate in KBW's CRE day on September 29, 2021. The event will be available via an audio webcast on both Newmark's Investor website and KBW's website. This webcast may feature forward-looking statements about Newmark's operations and financial outlook. An archive will be accessible for 90 days post-event. Notably, Newmark reported revenues exceeding $2.2 billion for the year ending June 30, 2021.

Newmark Group, headquartered in New York, has announced the expansion of its Global Corporate Services (GCS) business, supported by a new international leadership team. The GCS group has added over a dozen senior experts in 2021, including CEO Richard Bertasi, and secured 231 new assignments from 195 clients in the first half of the year. This growth enhances Newmark's service offerings, which now include portfolio strategies, project management, and workplace design, crucial for businesses adapting post-COVID. The leadership team brings extensive experience from corporate real estate sectors globally.

Newmark announced the successful sale of the Torrance Technology Campus, a 575,976-square-foot property located on 27 acres in Los Angeles' South Bay, for approximately $182 million. The transaction was facilitated by Kevin Shannon, Scott Schumacher, and Ken White, representing the seller, Torrance FRM LLC, while Rexford Industrial was self-represented. The campus is 90% leased to credit tenants, primarily L3Harris, which occupies 80% of the space. This acquisition highlights the demand for industrial properties in a competitive market.

Newmark has successfully arranged $627.55 million in financing for a portfolio of nine Class A multifamily projects comprising 2,588 units located in California, Washington, Massachusetts, and Georgia. The arrangement highlights the quality of the assets and the strength of the sponsor, GID Investment Advisers. Vice Chairmen Ramsey Daya and Chris Moritz, along with their team, facilitated the financing, emphasizing the low cost of capital available for multifamily assets. The portfolio includes various amenities and has shown consistent performance during the COVID-19 pandemic.

Newmark Group, Inc. (NASDAQ: NMRK) reported its financial results for Q2 2021, highlighting revenues exceeding $1.9 billion for 2020. The company continues to navigate the real estate sector's challenges, particularly posed by the COVID-19 pandemic. Newmark operates globally with about 490 offices and 19,300 professionals, providing a comprehensive suite of real estate services. Forward-looking statements indicate potential risks and uncertainties that may impact financial performance. The complete financial results will be discussed during a scheduled conference call.

Newmark has successfully completed the sale of HQ @ First, a 603,666-square-foot office campus in San Jose, California, fully leased to a global technology firm. The transaction was facilitated by Steven Golubchik and others, with Mori Trust Co., Ltd. selling to KKR through its Real Estate Select Trust fund. Located in Silicon Valley, the campus features a modern design and significant tenant investments. The North San Jose office market has seen 1,034,998 square feet of positive net absorption since 2016, with a current 0.0% availability rate.

Newmark has successfully arranged the sale of Sorrento Towers, a 296,327-square-foot Class A office complex in San Diego, for $146 million. The transaction involved Shorenstein Properties as the seller and Prime US REIT as the buyer. Sorrento Towers boasts a high occupancy rate of 98.2% and recent upgrades exceeding $25 million. Located at the intersection of life science and technology sectors, the property represents a robust investment opportunity in the post-pandemic market.

Newmark Group, Inc. (NASDAQ: NMRK) has announced its second quarter 2021 financial results will be released on August 6, 2021, at 8:00 a.m. ET. A conference call to discuss these results will take place the same day at 10:00 a.m. ET. Investors can access the full press release and additional financial documents through their Investor Relations website. The call will offer insights into the company's financial performance, contributing to stakeholder understanding of Newmark's operations in the commercial real estate sector.