Business
Newmark Secures $425 Million Refinancing for National Self-Storage Portfolio
NEW YORK, Sept. 4, 2025 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading commercial real estate advisor and service
About this update from Newmark Group, Inc.
[{"type":"text","content":"NEW YORK, Sept. 4, 2025 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) (\"Newmark\" or \"the Company\"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces the Company has arranged a $425 million loan on behalf of Centerbridge Partners and Merit Hill Capital for the refinancing of a national portfolio of 78 self-storage properties (\"the Portfolio\"). Newmark Co-President of Global Debt & Structured Finance Jordan Roeschlaub, Vice Chairman Nick Scribani and Director John Caraviello secured the financing from Citigroup and Goldman Sachs.\n\n \n \n \n \n \n \n\n \nThe Portfolio totals nearly 32,000 units across 4.65 million rentable square feet and is strategically located in multiple states. Under the sponsor's ownership, the Portfolio has experienced outstanding Net Operating Income (NOI) growth in excess of 18% since 2023. Leading national self-storage platforms Extra Space, CubeSmart and Argus manage the properties third-party.\nAccording to Newmark Research, demand for self-storage units across the U.S. remains strong, with same-store occupancy of 90.7% and elevated Google search traffic. Sophisticated revenue management platforms, improving operational efficiency and healthy consumer fundamentals have helped the sector navigate troughs in demand and maintain strong NOI margins.\nAbout Centerbridge PartnersCenterbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines — Private Equity, Private Credit and Real Estate — in an effort to develop the most attractive opportunities for our investors. The Firm was founded in 2005 and, as of June 30, 2025, has approximately $43 billion in assets under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies. For more information, please visit www.centerbridge.com | LinkedIn.\nAbout Merit Hill CapitalMerit Hill Capital is a real estate investment firm focused on acquiring one-off or small portfolio investments in private market transactions. Founded in 2016 by Liz Raun Schlesinger, Merit Hill manages REITs focusing on self-storage properties and has been an active investor in varying market cycles ov...