Newmark Secures $425 Million Refinancing for National Self-Storage Portfolio
Rhea-AI Summary
Newmark (NASDAQ:NMRK) has successfully arranged a $425 million refinancing loan for a national portfolio of 78 self-storage properties on behalf of Centerbridge Partners and Merit Hill Capital. The portfolio, managed by leading platforms Extra Space, CubeSmart, and Argus, comprises 32,000 units across 4.65 million rentable square feet.
The portfolio has demonstrated remarkable performance with NOI growth exceeding 18% since 2023. The financing was secured through Citigroup and Goldman Sachs. Market indicators remain strong, with self-storage facilities maintaining a 90.7% same-store occupancy rate nationwide, supported by robust consumer fundamentals and efficient revenue management systems.
Positive
- Portfolio achieved strong NOI growth of over 18% since 2023
- Successfully secured substantial $425 million refinancing
- High industry occupancy rate of 90.7% indicates strong market demand
- Portfolio benefits from management by leading national operators
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, NMRK gained 3.57%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
The Portfolio totals nearly 32,000 units across 4.65 million rentable square feet and is strategically located in multiple states. Under the sponsor's ownership, the Portfolio has experienced outstanding Net Operating Income (NOI) growth in excess of
According to Newmark Research, demand for self-storage units across the
About Centerbridge Partners
Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines — Private Equity, Private Credit and Real Estate — in an effort to develop the most attractive opportunities for our investors. The Firm was founded in 2005 and, as of June 30, 2025, has approximately
About Merit Hill Capital
Merit Hill Capital is a real estate investment firm focused on acquiring one-off or small portfolio investments in private market transactions. Founded in 2016 by Liz Raun Schlesinger, Merit Hill manages REITs focusing on self-storage properties and has been an active investor in varying market cycles over the past 19+ years. Since inception, Merit Hill has acquired 535 self-storage facilities, in 339 separate transactions, consisting of more than 34.4 million rentable square feet across 38 states. Merit Hill engages third-party property managers, including some of the largest publicly traded self-storage REITs, to manage daily operations at the property level. Merit Hill actively oversees the third-party property managers while implementing targeted value-add initiatives and selective capital improvement projects to improve operational performance and maximize investor returns.
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 June 30, 2025, Newmark generated revenues of over
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
What is the size of the refinancing loan Newmark (NMRK) arranged for the self-storage portfolio?
How many units and square feet does the Newmark-refinanced storage portfolio include?
What is the NOI growth of the storage portfolio under current ownership?
What is the current occupancy rate for self-storage facilities according to Newmark Research?
Which companies are managing the Newmark-refinanced storage portfolio?
