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Press release content from PR Newswire. The AP news staff was not involved in its creation.

Newmark Arranges $628 Million in Portfolio Financing on Behalf of GID Investment Advisers

August 24, 2021 GMT
Image of The Bravern in Seattle, WA, representative of GID Portfolio, courtesy of Newmark
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Image of The Bravern in Seattle, WA, representative of GID Portfolio, courtesy of Newmark
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Image of The Bravern in Seattle, WA, representative of GID Portfolio, courtesy of Newmark

SAN FRANCISCO, Aug. 24, 2021 /PRNewswire/ -- Newmark1, as an exclusive advisor to GID Investment Advisers, announces it has arranged $627.55 million in financing for a portfolio of nine Class A multifamily projects, totaling 2,588 units across California, Washington, Massachusetts and Georgia.

Vice Chairmen Ramsey Daya and Stephan Gianoplus, Senior Managing Director Chris Moritz and Vice President John Westby-Gibson of Newmark’s Debt & Structured Finance team helped arrange the financing in Georgia, Massachusetts and Washington, on behalf of the owner. In California, Vice Chairmen Ramsey Daya and Chris Moritz arranged the financing on behalf of the owner.

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“Life companies offer some of the lowest cost of capital in the market for financing multifamily assets and remain highly selective in the opportunities they pursue,” said Daya. “The high-level of interest shown by the market for this financing speaks to the quality of these assets and the strength of the sponsor.”

The portfolio consists of Class A assets with a proven operating track record and successful performance throughout COVID-19. All individual properties offer residents amenities, including fitness centers, swimming pools, lounges and BBQs. Select properties feature more luxurious amenities such as spas and sauna rooms, arcade rooms, business centers, pet play areas and washing stations.

Gianoplus added, “With a pristine track record of over six decades, GID has consistently delivered long-term value from its strategic investments. By taking advantage of one of the best times in history to secure financing, GID has once again put themselves in a favorable position to continue this trend with this world-class portfolio.”

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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. Our comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, growing startups to leading companies. In 2020, Newmark generated revenues in excess of $1.9 billion. Newmark, together with London-based partner Knight Frank and independently owned licensees, operates globally from approximately 490 offices with 19,300 professionals. To learn more, visit nmrk.com or follow @newmark.

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 effects of the COVID-19 pandemic on 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.

¹dba Newmark Knight Frank in California

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SOURCE Newmark Group, Inc.