Newmark Group, Inc. - NMRK STOCK NEWS

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.

Newmark Group, Inc. (Nasdaq: NMRK) has arranged a strategic joint venture between Catalyst Healthcare Real Estate and Heitman, securing $300 million to fund the development of purpose-built healthcare properties. The initial phase includes funding seven developments totaling nearly 500,000 square feet across five states, with tenants like Ochsner Health and Andrews Medicine.

The venture aims to develop medical outpatient buildings, orthopedic centers of excellence, and inpatient rehabilitation facilities. This partnership marks a significant milestone in Heitman's 20+ year history of investing in the medical office sector, leveraging the counter-cyclical qualities of this needs-based asset class.

Newmark Group, Inc. (Nasdaq: NMRK), a leading commercial real estate advisor and service provider, has released its financial results for the second quarter of 2024. The company has reported its performance for both the three and six months ended June 30, 2024. Additionally, Newmark has declared its quarterly dividend.

Investors and interested parties can access the full financial results press release, including details about the upcoming conference call and dividend declaration, through various channels on the company's website. The complete information is available in the 'Media' section at nmrk.com, as well as in the investor relations section, where PDF versions of the press release, investor presentation, and supplemental Excel financial tables can be found.

A conference call to discuss the results is scheduled for 10:00 a.m. ET today, providing an opportunity for further insights into Newmark's financial performance and future outlook.

Newmark Group, Inc. (Nasdaq: NMRK) and Greystone Capital Advisors have successfully arranged a $560 million floating-rate debt refinancing for 3ELEVEN, a luxury apartment tower in Manhattan. The financing was secured on behalf of Ares Management and Douglaston Development.

3ELEVEN is a 60-story, 938-unit property located near Hudson Yards. Completed just over a year ago, it is 99% leased and benefits from a 35-year tax abatement under New York State's 421-a program. The building offers a range of apartments and premium amenities, including a pool, fitness center, and multiple outdoor areas.

This refinancing replaces the previous HSBC construction loan and demonstrates Newmark's ability to navigate complex market conditions and deliver results for clients.

Newmark Group, Inc. (Nasdaq: NMRK) has extended its exchange offer for its 7.500% Senior Notes due 2029. The offer, initially set to expire on July 12, 2024, has been extended to July 17, 2024. Approximately $473.8 million in aggregate principal amount, or 99.7%, of the outstanding Old Notes were tendered as of July 12, 2024. The exchange offer allows holders to swap up to $475 million of outstanding notes for an equivalent amount of notes registered under the Securities Act of 1933.

Notably, Cantor Fitzgerald, L.P., Newmark's controlling stockholder, holds $125 million of the $600 million outstanding Old Notes and will not participate in the exchange offer. Newmark plans to file a shelf registration statement to enable Cantor to resell these Old Notes after the exchange offer's completion.

Newmark (Nasdaq: NMRK) has extended its exchange offer for $475 million of its 7.500% Senior Notes due 2029. The offer, originally set to expire on July 10, 2024, is now extended to July 12, 2024. As of July 10, approximately $473.7 million of the Old Notes were tendered, representing 99.7% participation, excluding some notes held by Cantor Fitzgerald, which owns $125 million of the $600 million issued in January 2024. Cantor will not participate in the exchange but plans to resell their notes under a future registration statement. The terms are detailed in a prospectus dated June 10, 2024.

Newmark Group (Nasdaq: NMRK) will release its second quarter 2024 financial results on Friday, August 2, 2024, at 8:00 a.m. ET.

A conference call to discuss these results is scheduled for the same day at 10:00 a.m. ET.

The financial results, along with supplementary materials, will be available on Newmark's investor relations website and media page.

A webcast replay of the conference call will be accessible starting at 1:00 p.m. ET on August 2, 2024, through August 2, 2025.

Newmark Group (Nasdaq: NMRK) announced a time change for their presentation at the East Coast IDEAS Investor Conference. Jason McGruder, Head of Investor Relations, will present on June 13, 2024. The presentation will be live-streamed at 7:55 a.m. ET and accessible via a webcast link provided in the announcement and on the company’s investor relations webpage.

Newmark Group has announced an exchange offer for up to $475 million of its outstanding 7.500% Senior Notes due 2029. This offer is to swap the old notes for new notes registered under the Securities Act of 1933. The old notes, totaling $600 million, were issued in January 2024. Noteholders must submit their tenders by July 10, 2024. The offer aims to fulfill Newmark's obligations under a registration rights agreement and does not constitute a new financing transaction. Cantor Fitzgerald, Newmark's controlling stockholder, holds $125 million of the old notes but will not take part in the exchange.