Newmark Facilitates $170M Financing for Centerbridge Partners and Merit Hill Capital's Self Storage Portfolio
09/28/2022 - 05:21 PM
NEW YORK Sept. 28, 2022 $170 million
The Newmark team that closed the debt was led by Jordan Roeschlaub Dustin Stolly Nick Scribani Aaron Swerdlin Taucha Hogue
"Driving the success of this transaction is the strength of the sponsorship between Merit Hill's operating platform and the equity commitment provided by Centerbridge Capital Partners," said Roeschlaub.
Stolly added, "Merit Hill Capital's ability to source deals locally and bring them to institutional standards speaks to their deep knowledge of local markets and ability to continue expanding the platform."
About Centerbridge Partners Centerbridge Partners is a multi-strategy private investment firm focused on leveraged buyouts and distressed securities. The New York City -based firm invests in both control and non-control opportunities and manages over $32 billion London .
About Merit Hill Merit Hill Capital is a real estate investment firm focused on aggregating one-off or small portfolio investments in private market transactions to create a diversified portfolio of assets. Founded in 2016 by Liz Raun Schlesinger , Merit Hill manages REITs focusing on self-storage properties. Merit Hill is headquartered in Brooklyn, New York , and has a team of 28 employees. The Merit Hill investment team has been an active investor in varying market cycles over the past 15+ years. Since its inception, Merit Hill has acquired 360 self-storage facilities in 217 separate transactions, consisting of more than 158,000 individual storage units and more than 19 million net rentable square feet across 33 states.
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. Newmark generated revenues of nearly $3.2 billion June 30, 2022 . Newmark's company-owned offices, together with its business partners, operate from approximately 170 offices with over 6,500 professionals around the world. To learn more, visit nmrk.com or follow @newmark .
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SOURCE Newmark Group, Inc.
