Newmark Group Stock Price, News & Analysis

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.

Newmark has arranged $200 million in Shariah-compliant financing for a medical office building portfolio for a joint venture between Big Sky Medical and GFH. This transaction is part of a larger strategy where Newmark helped create the joint venture, initially funded by a $400+ million medical office portfolio. The portfolio encompasses 13 outpatient facilities across seven states, totaling over 714,000 square feet. The financing supports future acquisitions, reinforcing the growth trajectory of the joint venture.

Newmark has successfully arranged $175 million in financing for the acquisition and renovation of 45 East 53rd Street in Manhattan, a joint venture between ZG Capital Partners and Rialto Capital Management. The financing consists of $120 million from a loan and $55 million from equity. Newmark's team, led by Dustin Stolly and Jordan Roeschlaub, aims to enhance the office space's appeal through modernization and amenities. The building, originally developed as Santander Bank's NYC headquarters, is poised to attract small and medium-sized tenants with its prime location and upcoming renovations.

Newmark Group, Inc. (Nasdaq: NMRK) is set to announce its second-quarter 2022 financial results on July 29, 2022, prior to market open. A conference call will follow at 10:00 a.m. ET on the same day. The advisory press release will be available by 8:00 a.m. ET and can be accessed through Newmark's investor relations website. The company generated revenues of nearly $3.1 billion for the twelve months ending March 31, 2022, and operates approximately 170 offices worldwide.

Newmark has successfully arranged a $322 million financing package from Blackstone for the luxury waterfront residential development at St. John's Terminal in Manhattan. This project, a joint venture with Zeckendorf Development and Atlas Capital Group, is valued at $1.25 billion and will include over 600,000 square feet of residential space on a 1.3-acre site. The two-tower design will rise 430 feet, providing exceptional views and amenities, while the project is positioned to stand out in New York's competitive real estate market.