Newmark Arranges $400 Million Financing Facility for PORT 32 Marinas

December 11, 2024 10:30 AM

Newmark announces that the firm has arranged a $400 million credit facility for PORT 32 Marinas to refinance its existing portfolio of coastal marinas, and to fund the future acquisition of marinas. Newmark's Co-Head, Global Debt & Structured Finance Jordan Roeschlaub and Vice Chairman Chris Kramer, in collaboration with Co-Head, Global Debt & Structured Finance Jonathan Firestone arranged the financing, which was provided by the Austria-based bank, BAWAG Group.

"This funding underscores the robust and sustained demand for premier coastal marinas throughout the Eastern U.S.," said Roeschlaub. "The transaction reflects a forward-looking strategy that leverages the unique appeal of coastal marinas as essential infrastructure for both recreation and commerce and is a testament to both the strength of the asset class and its long-term growth potential."

About PORT 32 Marinas
Based in Charleston, South Carolina, PORT 32 is a leading owner, operator and developer of dry and wet slip coastal marina properties. PORT 32 provides expertise in the development and management of marina assets to bring customers an unparalleled level of service within the industry. PORT 32 owns and operates a growing collection of Class A marina assets in premier markets. For more information, please visit https://port32marinas.com.

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. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2024, Newmark generated revenues of approximately $2.6 billion. As of that same date, Newmark's company-owned offices, together with its business partners, operated from nearly 170 offices with more than 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
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