Newmark Group, Inc. - NMRK STOCK NEWS

Newmark Group, Inc. (Nasdaq: NMRK) has appointed Richard Bertasi as the new CEO of its Global Corporate Services (GCS) division. Bertasi, a seasoned executive with over 25 years of experience, is expected to spearhead the expansion of Newmark's GCS offerings. His experience includes leadership roles at Bridgewater Associates and Deutsche Bank, where he managed extensive corporate real estate portfolios. Under Bertasi, Newmark aims to enhance its integrated GCS platform, providing comprehensive corporate services amidst changing market demands due to the COVID-19 pandemic.

Stoneweg US has successfully acquired Trellis at the Lakes Apartments in St. Petersburg, marking its largest acquisition at $114 million. This 688-unit property features modern amenities and is strategically located near major employers. The deal marks a partnership with HIMCO, an institutional investor, and allows Stoneweg US to enhance its local presence. Plans for extensive renovations and improved amenities are set to boost property value. This acquisition is seen as a significant milestone for Stoneweg US's growth strategy.

Newmark Group, Inc. (NASDAQ: NMRK) reported its financial results for Q3 2020, highlighting its robust position in commercial real estate services amidst the challenges posed by the COVID-19 pandemic. Despite the external environment, Newmark remains committed to delivering tailored services across various client types, leveraging data and technology to enhance its offerings. In 2019, the company generated revenue exceeding $2.2 billion.

The full financial results can be accessed through their official website.

On November 3, 2020, Newmark's Self Storage Group announced the successful sale of a 16-property self-storage portfolio in New England, representing its fourth collaboration with Storage Pros Management. The portfolio, totaling over 850,000 square feet, was acquired by SROA Capital for its 8th dedicated self-storage fund. The transaction highlights the growing demand in the self-storage sector, fueled by COVID-19-related housing disruptions, and reflects Newmark's expertise in managing substantial real estate transactions.

Newmark Group, Inc. (NASDAQ: NMRK) announced its formal rebranding to 'Newmark' on Oct. 19, 2020, reflecting its growth and innovation in commercial real estate (CRE) services. Over the last decade, Newmark completed 50+ acquisitions, expanding internationally and enhancing its service offerings. This rebranding signifies Newmark's evolution into a global CRE leader, showcasing its dynamic culture and commitment to data-driven solutions. With over $2.2 billion in revenues in 2019, Newmark continues to prioritize transparency and relationships in serving its clients.

Newmark Group, Inc. (NASDAQ: NMRK) will announce its third quarter 2020 financial results on November 5, 2020, at 8:00 a.m. ET. Following this release, a conference call is scheduled for 10:00 a.m. ET to discuss the results. Participants can pre-register for the call to streamline access. The announcement will be accessible via Newmark's Investor Relations website. This financial results conference call reflects Newmark's ongoing commitment to transparency in communicating its financial performance amid market conditions affected by the COVID-19 pandemic.

Newmark Group, Inc. (NASDAQ: NMRK) has welcomed eleven experienced industrial real estate professionals to enhance its supply chain and logistics advisory services across North America. These new hires, coming from Savills, include Executive Managing Directors and Managing Directors based in major cities such as New Jersey, California, Texas, Florida, and Ontario. The move aims to strengthen Newmark's presence in a rapidly evolving market driven by e-commerce and logistics demands, supporting Fortune 500 clients with innovative real estate solutions.

Newmark Group, Inc. (NASDAQ: NMRK) reported its financial results for the second quarter ending June 30, 2020. The company is a full-service commercial real estate firm offering a wide range of services, including capital markets, agency leasing, and property management. The financial outlook is affected by uncertainties stemming from the COVID-19 pandemic. The press release highlights that forward-looking statements may differ from actual results due to these risks. For more details, investors can access the full report online.

Newmark Group, Inc. (NASDAQ: NMRK) has established a $125 million sublimit line of credit to fund principal and interest servicing advances on its Fannie Mae portfolio during the CARES Act forbearance period. This line will cover 100% of advance payments at a rate of 1-month LIBOR plus 2.00%, backed by Fannie Mae's commitment. As of May 31, 2020, Newmark had $0.3 million of advances outstanding across four Fannie Mae loans in forbearance. The CFO highlighted resilient rent collections, projecting forbearance rates below industry averages.