Newmark Arranges $525 Million Refinancing for The Artise on Behalf of Schnitzer West and The Baupost Group

Newmark (NMRK) arranged a $525 million refinancing for The Artise, a Class A+ 25-story office tower in downtown Bellevue that is 99% leased.

Rhea-AI Summary

Newmark (NMRK) arranged a $525 million refinancing for The Artise, a Class A+ 25-story office tower in downtown Bellevue that is 99% leased. The loan was placed with Goldman Sachs and Deutsche Bank on behalf of Schnitzer West and The Baupost Group.

Completed in 2024 and LEED Gold certified, The Artise features 927 below-grade parking stalls, a 3,000-square-foot terrace, advanced glazing, and extensive bike amenities.

Positive

• $525 million refinancing secured
• Property is 99% leased
• Financing provided by Goldman Sachs and Deutsche Bank
• Class A+ 25-story trophy office in Bellevue

Negative

• None.

Argus Apr 1 session

-0.67% close to close Open Argus

Details

News Market Reaction – NMRK

On Apr 1, the day this news came out, NMRK closed 0.67% below the previous close.

Data tracked by StockTitan Argus for the Apr 1 session.

Market Context

This announcement highlights Newmark’s ability to secure a $525 million refinancing for The Artise, ...

Analysis

This announcement highlights Newmark’s ability to secure a $525 million refinancing for The Artise, a 25-story, 99%-leased, LEED Gold office tower in Bellevue. It extends a recent run of sizable capital markets and advisory mandates tied to fully leased, high-quality assets. When assessing this news, investors may consider how such transactions support Newmark’s capital markets franchise, its exposure to office fundamentals, and progress versus prior deals like the $1.65 billion One Madison Avenue refinancing.

Key Figures

Refinancing size: $525 million Occupancy: 99% leased Building height: 25-story +5 more

Refinancing size

$525 million

Refinancing of The Artise office tower

Occupancy

99% leased

Lease status of The Artise

Building height

25-story

Class A+ trophy office tower description

Completion year

2024

Completion date of The Artise

Parking stalls

927

Below-grade parking at The Artise

Outdoor terrace size

3,000 square feet

Outdoor terrace at The Artise

Bike racks

196

Vertical bike racks at The Artise

E-bike charging

12 stations

E-bike charging stations at The Artise

Historical Context

5 past events · Latest: Mar 30

5 events

1. Mar 30

   Large refinancing deal

   24h Move

   +2.7%

   Arranged $1.65B refinancing for fully leased One Madison Avenue trophy office.

2. Mar 25

   Strategic advisory win

   24h Move

   +2.7%

   Advised on One Beverly Hills, closing record non–data center construction loan.

3. Mar 25

   Advisory update

   24h Move

   +2.7%

   UPDATE detailing strategic advisory role on ultra-luxury One Beverly Hills project.

4. Mar 17

   Leasing mandate

   24h Move

   +1.9%

   Awarded exclusive leasing and management for 4.2M sq. ft. suburban portfolio.

5. Mar 09

   Industry recognition

   24h Move

   +1.5%

   Named to IAOP 2026 Global 100® as a Leader for 17th consecutive year.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

leed gold

1 terms

leed gold technical

"The Artise is a state-of-the-art, LEED Gold certified office tower featuring..."

LEED Gold is a high-level building certification that shows a property meets rigorous standards for energy efficiency, water use, materials, and indoor environmental quality. For investors it signals lower operating costs, potential for higher rents or resale value, and lower regulatory or reputational risk—think of it as buying a house with high-efficiency appliances and strong insulation that saves money and attracts better tenants over time.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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BELLEVUE, Wash., March 31, 2026 /PRNewswire/ -- Newmark announced the Company has arranged the $525 million refinancing of The Artise, a recently delivered, Class A+ 25-story trophy office tower in downtown Bellevue, WA, that is 99% leased. The transaction reflects Newmark's capital markets expertise and its ability to deliver large‑scale financing solutions for institutional owners in top‑tier office markets.

Newmark Co-President of Global Debt & Structured Finance Jonathan Firestone and Vice Chairman Blake Thompson, in collaboration with Co-Head, U.S. Capital Markets Kevin Shannon, led the assignment, arranging the financing from Goldman Sachs and Deutsche Bank on behalf of Schnitzer West and The Baupost Group. The team partnered closely with the clients to structure a competitive refinancing that aligns with the asset's long‑term investment strategy.

"Securing this refinancing for The Artise underscores lender confidence in Bellevue's premier office market and the long-term durability of this tenancy," said Firestone. "Goldman Sachs and Deutsche Bank delivered a competitive structure that supports our clients' business plan and recognizes the exceptional quality and an investment-grade tenant."

"The Artise reinforces the strength of Bellevue as a critical business hub," said Jordan Suther, Senior Director, Schnitzer West. "The refinancing reflects the continued value of well-located, best-in-class office assets with strong tenancy. We're pleased to see ongoing confidence from the capital markets."

Completed in 2024, at the intersection of NE 8th Street and 106th Avenue, The Artise is a state-of-the-art, LEED Gold certified office tower featuring a prominent public plaza with a water feature, 927 below-grade parking stalls, self-tinting high-performance glazing, a 3,000-square-foot outdoor terrace and robust bike amenities including 196 vertical bike racks, 12 e-bike charging stations and dedicated locker rooms.

About Schnitzer West
Schnitzer West LLC is one of the Seattle and Denver area's leading real estate investment, development and property management companies. Co-founded in 1997 by then Managing Investment Partner Dan Ivanoff of Seattle and Ken Novack, then President of Portland-based Schnitzer Investment Corp (now called MMGL Hold Co LLC), the company has built a successful track record in the commercial and multifamily housing markets through product innovation, disciplined management, and investment expertise. Known for its commitment to "Outperform the Expected," Schnitzer West has earned recognition for creating innovative workplaces and living spaces, delivering superior-to-market returns, and its value-creation approach to property management. To date, it has developed or acquired and repositioned more than 12.5 million square feet of Class-A office and suburban office, flex, industrial and bio-tech space, mixed-use, and 1,590 units of luxury multifamily residential in Seattle, Portland, and Denver. Currently, it has 2.0 million square feet of office and multifamily residential (380 units) in predevelopment. Schnitzer West's Asset Operations group actively manages 3.8 million square feet of office and industrial property for various clients. Learn more at www.schnitzerwest.com.

About The Baupost Group
The Baupost Group is a Boston-based investment manager with a long-term, value-oriented approach. Since 1982, the firm has been thoughtfully stewarding and compounding capital on behalf of families, foundations, endowments, and other like-minded institutions, as well as employees who collectively are the firm's largest client.

Employing its value-focused discipline, Baupost has been successfully investing in real estate for more than 30 years. Working both independently and through joint ventures, the firm has deep experience in public and private real estate markets, in equity and credit positions, and across geographies and property types. Baupost's relationships, flexible capital, and ability to underwrite large, complex situations has made the firm a trusted counterparty to programmatic equity joint-ventures and bespoke debt financing structures alike.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended December 31, 2025, Newmark generated revenues of nearly $3.3 billion. As of December 31, 2025, Newmark and its business partners together operated from approximately 175 offices with over 9,300 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

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SOURCE Newmark Group, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What refinancing did Newmark arrange for The Artise (NMRK) on April 1, 2026?

Newmark arranged a $525 million refinancing for The Artise. According to Newmark, the loan was placed with Goldman Sachs and Deutsche Bank on behalf of Schnitzer West and The Baupost Group, aligning with the asset's long-term investment plan.

How leased is The Artise property involved in the NMRK-arranged refinancing?

The Artise is reported as 99% leased. According to Newmark, the building's high occupancy and an investment-grade tenant profile supported lender confidence in the financing.

Who were the lenders on the $525 million refinancing Newmark arranged for The Artise?

The refinancing was arranged with Goldman Sachs and Deutsche Bank. According to Newmark, those lenders delivered a competitive financing structure for Schnitzer West and The Baupost Group.

What key features of The Artise were cited in the NMRK refinancing announcement?

The Artise is a LEED Gold Class A+ tower with 927 parking stalls and a 3,000-square-foot terrace. According to Newmark, the asset includes high-performance glazing and robust bike amenities.

How does Newmark describe the market significance of The Artise refinancing (NMRK)?

Newmark said the refinancing underscores lender confidence in Bellevue's office market. According to Newmark, the deal reflects ongoing capital-market support for well-located, best-in-class office assets.