Newmark Group Stock Price, News & Analysis

Newmark Group, Inc. (Nasdaq: NMRK) announced the appointment of Angie Leccese as the new Chief Marketing Officer. Leccese, with over 20 years in marketing within commercial real estate, will manage Newmark's marketing strategy, focusing on growth through content marketing and sales enablement. She previously held a Vice President role at CBRE and has extensive experience at Cousins Properties and Colliers International. CEO Barry Gosin expressed confidence in Leccese's ability to enhance Newmark's business development and marketing efforts.

Newmark Group (Nasdaq: NMRK) announced that it will release its third quarter 2022 financial results on October 28, 2022, before the market opens. The conference call to discuss these results is scheduled for the same day at 10:00 a.m. ET. An advisory press release will be issued at 8:00 a.m. ET to provide access to the full financial results. For the twelve months ending June 30, 2022, Newmark generated revenues of over $3.2 billion.

Newmark Group, Inc. (Nasdaq: NMRK) has successfully completed the sale of the Western Canadian Continuum of Care Portfolio for over $300 million. This portfolio includes eight properties with 1,092 suites aimed at seniors housing. The transaction was between H&H Total Care Services and a joint venture of Axium Infrastructure and Optima Living. The properties, with an average age of 10 years, offer assisted and independent living options and development potential for over 360 additional units. The deal was executed amid a changing interest rate environment, requiring extensive coordination by Newmark's Seniors Housing group.

On September 28, 2022, Newmark Group, Inc. (NMRK) announced securing $170 million in financing for a 33-asset self-storage portfolio covering 1.8 million square feet, on behalf of Centerbridge Partners and Merit Hill Capital. This portfolio is located in strong markets across 16 states and is well-leased, managed by CubeSmart and Extra Space. The financing was spearheaded by Newmark’s Jordan Roeschlaub and Dustin Stolly, with Bank of America providing the loan. Newmark reported revenues nearing $3.2 billion for the year ending June 30, 2022.

Newmark has successfully arranged a $210 million financing facility for a 904-key portfolio of four citizenM hotels under construction. Key personnel involved were Vice Chairmen Dustin Stolly and Jordan Roeschlaub, along with Senior Managing Director Nick Scribani. The hotels are strategically located in high-demand submarkets, backed by significant investments from GIC and APG Asset Management. Each hotel aims to cater to modern travelers with state-of-the-art amenities, supporting citizenM's rapid expansion in the U.S. and enhancing its brand visibility.

Newmark has successfully arranged a $462.5 million refinancing loan for SpareBox Storage's national portfolio, which includes 101 assets covering 6.9 million square feet across eight states. This transaction was facilitated by strong sponsorship from SpareBox and equity commitment from Davidson Kempner Capital Management. Newmark’s Debt and Structured Finance team, led by Dustin Stolly and Jordan Roeschlaub, collaborated closely with Bank of America for this refinancing. SpareBox is a leading self-storage operator with a tech-driven platform managing approximately 37,362 units.

Newmark arranged a $260 million loan for RXR to refinance 75 Rockefeller Plaza, a mixed-use building in Midtown Manhattan. The financing involved Bank of America and Carlyle, highlighting the asset's strong fundamentals, including A+ sponsorship and investment-grade tenancy. The property, with 627,000 square feet of space, features modern amenities and a prime location near key transport hubs. RXR, having invested $150 million in improvements since 2013, reaffirms its commitment to the site, enhancing its long-term value.

Newmark has secured $514 million in construction financing for Phase I of Assembly Innovation Park, a 485,000-square-foot life science tower in Somerville, Massachusetts. This financing is one of Greater Boston's first 'green loans' and contributes to over $4 billion in life science transactions by Newmark's Boston Debt & Structured Finance group since December 2020. The project aims for LEED Gold and WELL certifications and is expected to complete in Q2 2024.

Newmark Group, Inc. (Nasdaq: NMRK) reported its financial results for Q2 2022, revealing revenues exceeding $3.2 billion for the twelve months ending June 30, 2022. The company operates globally with approximately 170 offices and over 6,500 professionals. A conference call is scheduled for today at 10:00 a.m. ET to discuss these results, including forward-looking statements regarding the impact of the COVID-19 pandemic on its business. Newmark aims to deliver tailored services across various sectors, enhancing its market position.