Newmark Group Stock Price, News & Analysis

Newmark has successfully completed the sale of 1500 Locust, a prominent 45-story multifamily building in Center City Philadelphia, for $233 million. This marks the largest single-asset sale in Philadelphia's multifamily market history. The transaction was facilitated by Newmark Executive Managing Directors Lizann McGowan and Erin Miller, representing the seller, Barings. The building features 612 units, street-level retail, and extensive amenities. Notably, the multifamily sales volume in the greater Philadelphia area reached $2.2 billion over the previous year.

Harbor Group International has acquired an 8-asset portfolio of workforce housing communities in North Carolina's Research Triangle for $475 million. The portfolio includes 2,356 units across Durham, Raleigh, and Charlotte, with plans to invest $21.9 million in renovations for 25% of the units. This acquisition positions HGI to benefit from the area's growing demand for housing driven by high-paying STEM jobs, with over 9,000 jobs created since 2020. Newmark facilitated the transaction, representing the seller Dasmen Residential.

Newmark has successfully completed the $341 million sale of eight assets in Minuteman Park, Andover, Massachusetts. The transaction includes a $190 million sale of 3000 Minuteman Road and $151 million for three additional properties. The total area covers over 1.3 million square feet, with potential for new biomanufacturing development. Newmark's team facilitated the sales and will now manage leasing for the campus, enhancing its appeal with on-site amenities and strategic location near major highways.

Newmark Group, Inc. (Nasdaq: NMRK) announced the conference call details for its fourth quarter 2021 financial results, scheduled for February 11, 2022, at 10:00 a.m. ET. The Company will issue an advisory press release by 8:00 a.m. ET on the same day. Investors can access the full financial results through links provided in the announcement. Newmark generated over $2.5 billion in revenue for the trailing twelve months ending September 30, 2021.

Newmark Group has announced an agreement to collaborate with Budapest-based VLK Consulting, which will now operate as Newmark VLK Hungary. This partnership aims to enhance Newmark's presence in Central and Eastern Europe, capitalizing on Hungary's robust economic growth, projected at 5.4% GDP for 2022. The collaboration will allow VLK to leverage Newmark's extensive resources and technology. Newmark's strategy includes growth in the CEE region, following its recent establishment of Newmark Polska. The company generated over $2.5 billion in revenue for the trailing twelve months ending September 30, 2021.

On January 11, 2022, Newmark announced the sale of Charles Park, a two-building office complex in Cambridge, Massachusetts, for $815 million. The transaction was facilitated by key executives from Newmark's Boston Capital Markets Group. The complex spans 408,259 square feet and includes two Class A office buildings along with a parking garage. It features infrastructure suitable for life science development and is strategically located near MIT and major transportation hubs. Newmark continues to enhance its standing in the commercial real estate market, reporting revenues exceeding $2.5 billion for the trailing twelve months.

Rosewood Property Company has made a significant move by acquiring 16 self-storage facilities from Extra Space Storage, marking the company's largest acquisition in history. This deal, encompassing around 12,000 units and 1.3 million net rentable square feet, enhances Rosewood's presence in both existing and new markets across the Southeast and Midwest. Extra Space will manage most of the facilities. Following this acquisition, Rosewood now operates 73 self-storage projects in 21 states, totaling over 5.8 million square feet and approximately 44,500 units.

Newmark Group has strengthened its Central and Eastern European presence through a partnership with a leading commercial real estate group in Poland, forming Newmark Polska. This 45-member team, led by Piotr Kaszyński, will focus on tenant representation, market research, valuation, and project management. Newmark is capitalizing on Poland's robust economic growth and increasing market activity in the region. The expansion aims to enhance client services and leverage global investment opportunities. Newmark generated over $2.5 billion in revenue for the twelve months ending September 30, 2021.

Newmark has successfully facilitated the sale of the DreamWorks Animation headquarters in Glendale, California, for $327 million. This 14.7-acre campus, comprising 497,403 square feet, is fully leased to DreamWorks Animation through 2035. The transaction signifies strong interest in high-quality office spaces, with nearly 30 buyer tours conducted. Newmark's expertise in capital markets was highlighted in this deal, showcasing the resilience of the Los Angeles office market amid rising demand for studio spaces.