Newmark Group, Inc. - NMRK STOCK NEWS

Newmark has secured a $315 million refinancing for a national self-storage portfolio owned by TPG Angelo Gordon and Andover Properties. The portfolio comprises 43 assets operating under the Storage King USA brand, spanning 24 markets across 11 states, with over 21,300 units and 3.1 million rentable square feet. The financing was provided by Wells Fargo, Goldman Sachs, and 3650 REIT. The portfolio has demonstrated strong performance with NOI growth exceeding 40% since acquisition. According to Newmark Research, self-storage transaction activity increased 27% from Q1 to Q2 2024.

Newmark has advised on the $162 million sale of The Plaza at Walnut Creek, a 362,399-square-foot office complex in San Francisco's East Bay market. This represents the largest multi-tenant office sale on the West Coast since 2022. The property, sold by Clarion Partners to PSAI Realty Partners, was 93% leased at the time of sale and has maintained a market-leading occupancy of 91% over the last five years. Located at 1331 and 1333 North California Boulevard, the complex consists of two multi-tenant buildings with underground parking, offering strong visibility to over 38,000 passing vehicles daily.

Newmark Group, Inc. (Nasdaq: NMRK) has announced its role as strategic advisor in a $3.4 billion joint venture to fund a purpose-built data center in Abilene, Texas. The venture involves Blue Owl Capital, Primary Digital Infrastructure, and Crusoe Energy Systems Crusoe will design, build, and operate a 206 megawatt, 998,000-square-foot data center, which is 100% long-term leased to a Fortune 100 hyperscale tenant.

The data center, set to begin occupancy in 1H 2025, will incorporate innovative design optimized for direct-to-chip liquid cooling and support high energy density IT applications, particularly for artificial intelligence workloads. It will have the capacity to operate up to 100,000 GPUs on a single integrated network fabric. The project is expected to contribute nearly $1 billion to the local economy over 20 years and create almost a hundred local jobs.

Newmark Group, Inc. (Nasdaq: NMRK) has announced the details for its third quarter 2024 financial results release and conference call. The company will issue an advisory press release at 8:00 a.m. ET on Tuesday, November 5, 2024, notifying the public about the availability of its consolidated quarterly financial results. The full-text financial results press release will be accessible on Newmark's investor relations website and media page.

A conference call is scheduled for the same day at 10:00 a.m. ET to discuss the results. Interested parties can join the webcast or access dial-in information, which will be posted on the event's page before the call. A webcast replay will be available from November 5, 2024, at 1:00 p.m. ET until November 5, 2025, at 11:59 p.m. ET.

Newmark Group, Inc. (Nasdaq: NMRK) announces the appointment of Marcus Lütgering as Country Head for Germany, marking a significant expansion of its presence in the country. Lütgering, a distinguished industry leader, will oversee Newmark's brokerage operations in Germany, including recruiting, strategic direction, business development, and client service.

This move is part of Newmark's global strategy to hire top-tier professionals across various industry verticals, asset classes, and key geographies. The expansion into Germany offers opportunities for networking, partnerships, and business growth, capitalizing on the country's economic strength and investment opportunities.

Newmark has been rapidly growing its presence in Europe, with approximately 1,000 professionals in the EMEA region generating about $300 million in annual revenues over the twelve months ended June 30, 2024. The company aims to establish a presence in nearly all major German cities, replicating its leading occupier and investor advisory capabilities.

Camber Development and Wheelock Street Capital have completed Phase I of 44 Middlesex, a world-class advanced manufacturing campus in Bedford, Massachusetts. The first of two 147,000-square-foot buildings has been delivered, offering unmatched advanced manufacturing and biomanufacturing spaces. Newmark has been retained as the exclusive leasing agent.

Phase II, set to begin construction in 2025, will deliver a second 147,000-square-foot building, targeting completion in 2026. The campus totals 294,000 square feet and boasts impressive specifications, including 8,600 Amps of power, 36' clear heights, and robust structural capacity. Each building features a 105,000-square-foot ground floor and a 42,000-square-foot mezzanine.

Located in Bedford's innovation hub, 44 Middlesex offers proximity to talent pools, retail centers, and dining options, making it an attractive location for life science manufacturing and R&D users.

Newmark Group, Inc. (Nasdaq: NMRK) has announced its role as strategic advisor in a $5 billion joint venture between Blue Owl, Chirisa Technology Parks, and PowerHouse Data Centers. The partnership aims to develop large-scale AI/HPC data centers across the U.S. The initial phase includes delivering 120 megawatts of capacity for CoreWeave in 2025 and 2026 at Chirisa's 350-acre campus near Richmond, Virginia. Future deployments are planned in New Jersey, Pennsylvania, Texas, Kentucky, and Nevada.

Newmark's Co-President of Global Debt & Structured Finance, Jordan Roeschlaub, highlighted the venture as an innovative and flexible capital solution for rapid AI/HPC capacity development. The data center industry is experiencing significant growth, driven by expanding needs of hyperscalers, AI and HPC users, and large enterprises, leading to increased construction and land banking for future development.

Newmark Group, Inc. (Nasdaq: NMRK) has served as a strategic advisor to The Hampshire Companies on a $300 million recapitalization of The Fairfalls Logistics Portfolio and assisted in procuring a joint venture equity partner. The Portfolio comprises 1.35 million square feet of light industrial space across 30 buildings, currently 92% leased. Located primarily in Fairfield, New Jersey, with additional properties in Little Falls, Elmwood Park, and Carteret, the Portfolio offers strategic access to major Northeast corridors.

The transaction highlights include:

• Average building size of 45,000+ square feet
• $14.3 million invested in capital improvements
• Broad zoning capabilities supporting various industrial uses
• Northern New Jersey's industrial market strength, with a 5.3% vacancy rate and average asking rents of $17.01/SF in Q2 2024

Newmark Group, Inc. (Nasdaq: NMRK) has arranged a $985 million loan for the construction of 80 Clarkson, an ultra-luxury condominium development in Manhattan's West Village. The financing was secured on behalf of Zeckendorf Development, Atlas Capital Group, and The Baupost Group , with funding provided by Cale Street Partners and Farallon Capital Management.

The project, located on one of the last waterfront residential sites in the West Village, will offer over 100 condominiums with 360-degree views, outdoor spaces, and high-end amenities. Sales are scheduled to launch next year, with completion expected in 2026 and 2027. Zeckendorf Development, known for record-breaking projects, is leading the design and development of this skyline-defining property.