Newmark Group Stock Price, News & Analysis

Newmark Group, Inc. (Nasdaq: NMRK) has announced the details for its third quarter 2024 financial results release and conference call. The company will issue an advisory press release at 8:00 a.m. ET on Tuesday, November 5, 2024, notifying the public about the availability of its consolidated quarterly financial results. The full-text financial results press release will be accessible on Newmark's investor relations website and media page.

A conference call is scheduled for the same day at 10:00 a.m. ET to discuss the results. Interested parties can join the webcast or access dial-in information, which will be posted on the event's page before the call. A webcast replay will be available from November 5, 2024, at 1:00 p.m. ET until November 5, 2025, at 11:59 p.m. ET.

Newmark Group, Inc. (Nasdaq: NMRK) announces the appointment of Marcus Lütgering as Country Head for Germany, marking a significant expansion of its presence in the country. Lütgering, a distinguished industry leader, will oversee Newmark's brokerage operations in Germany, including recruiting, strategic direction, business development, and client service.

This move is part of Newmark's global strategy to hire top-tier professionals across various industry verticals, asset classes, and key geographies. The expansion into Germany offers opportunities for networking, partnerships, and business growth, capitalizing on the country's economic strength and investment opportunities.

Newmark has been rapidly growing its presence in Europe, with approximately 1,000 professionals in the EMEA region generating about $300 million in annual revenues over the twelve months ended June 30, 2024. The company aims to establish a presence in nearly all major German cities, replicating its leading occupier and investor advisory capabilities.

Camber Development and Wheelock Street Capital have completed Phase I of 44 Middlesex, a world-class advanced manufacturing campus in Bedford, Massachusetts. The first of two 147,000-square-foot buildings has been delivered, offering unmatched advanced manufacturing and biomanufacturing spaces. Newmark has been retained as the exclusive leasing agent.

Phase II, set to begin construction in 2025, will deliver a second 147,000-square-foot building, targeting completion in 2026. The campus totals 294,000 square feet and boasts impressive specifications, including 8,600 Amps of power, 36' clear heights, and robust structural capacity. Each building features a 105,000-square-foot ground floor and a 42,000-square-foot mezzanine.

Located in Bedford's innovation hub, 44 Middlesex offers proximity to talent pools, retail centers, and dining options, making it an attractive location for life science manufacturing and R&D users.

Newmark Group, Inc. (Nasdaq: NMRK) has announced its role as strategic advisor in a $5 billion joint venture between Blue Owl, Chirisa Technology Parks, and PowerHouse Data Centers. The partnership aims to develop large-scale AI/HPC data centers across the U.S. The initial phase includes delivering 120 megawatts of capacity for CoreWeave in 2025 and 2026 at Chirisa's 350-acre campus near Richmond, Virginia. Future deployments are planned in New Jersey, Pennsylvania, Texas, Kentucky, and Nevada.

Newmark's Co-President of Global Debt & Structured Finance, Jordan Roeschlaub, highlighted the venture as an innovative and flexible capital solution for rapid AI/HPC capacity development. The data center industry is experiencing significant growth, driven by expanding needs of hyperscalers, AI and HPC users, and large enterprises, leading to increased construction and land banking for future development.

Newmark Group, Inc. (Nasdaq: NMRK) has served as a strategic advisor to The Hampshire Companies on a $300 million recapitalization of The Fairfalls Logistics Portfolio and assisted in procuring a joint venture equity partner. The Portfolio comprises 1.35 million square feet of light industrial space across 30 buildings, currently 92% leased. Located primarily in Fairfield, New Jersey, with additional properties in Little Falls, Elmwood Park, and Carteret, the Portfolio offers strategic access to major Northeast corridors.

The transaction highlights include:

• Average building size of 45,000+ square feet
• $14.3 million invested in capital improvements
• Broad zoning capabilities supporting various industrial uses
• Northern New Jersey's industrial market strength, with a 5.3% vacancy rate and average asking rents of $17.01/SF in Q2 2024

Newmark Group, Inc. (Nasdaq: NMRK) has arranged a $985 million loan for the construction of 80 Clarkson, an ultra-luxury condominium development in Manhattan's West Village. The financing was secured on behalf of Zeckendorf Development, Atlas Capital Group, and The Baupost Group , with funding provided by Cale Street Partners and Farallon Capital Management.

The project, located on one of the last waterfront residential sites in the West Village, will offer over 100 condominiums with 360-degree views, outdoor spaces, and high-end amenities. Sales are scheduled to launch next year, with completion expected in 2026 and 2027. Zeckendorf Development, known for record-breaking projects, is leading the design and development of this skyline-defining property.

Newmark Group, Inc. (Nasdaq: NMRK) has arranged a strategic joint venture between Catalyst Healthcare Real Estate and Heitman, securing $300 million to fund the development of purpose-built healthcare properties. The initial phase includes funding seven developments totaling nearly 500,000 square feet across five states, with tenants like Ochsner Health and Andrews Medicine.

The venture aims to develop medical outpatient buildings, orthopedic centers of excellence, and inpatient rehabilitation facilities. This partnership marks a significant milestone in Heitman's 20+ year history of investing in the medical office sector, leveraging the counter-cyclical qualities of this needs-based asset class.

Newmark Group, Inc. (Nasdaq: NMRK), a leading commercial real estate advisor and service provider, has released its financial results for the second quarter of 2024. The company has reported its performance for both the three and six months ended June 30, 2024. Additionally, Newmark has declared its quarterly dividend.

Investors and interested parties can access the full financial results press release, including details about the upcoming conference call and dividend declaration, through various channels on the company's website. The complete information is available in the 'Media' section at nmrk.com, as well as in the investor relations section, where PDF versions of the press release, investor presentation, and supplemental Excel financial tables can be found.

A conference call to discuss the results is scheduled for 10:00 a.m. ET today, providing an opportunity for further insights into Newmark's financial performance and future outlook.

Newmark Group, Inc. (Nasdaq: NMRK) and Greystone Capital Advisors have successfully arranged a $560 million floating-rate debt refinancing for 3ELEVEN, a luxury apartment tower in Manhattan. The financing was secured on behalf of Ares Management and Douglaston Development.

3ELEVEN is a 60-story, 938-unit property located near Hudson Yards. Completed just over a year ago, it is 99% leased and benefits from a 35-year tax abatement under New York State's 421-a program. The building offers a range of apartments and premium amenities, including a pool, fitness center, and multiple outdoor areas.

This refinancing replaces the previous HSBC construction loan and demonstrates Newmark's ability to navigate complex market conditions and deliver results for clients.