NEW
YORK, Dec. 8, 2022 /PRNewswire/ -- Newmark
announces that the firm has arranged a $300
million programmatic joint venture ("the Venture") between
Maya Capital Partners ("Maya") and Artemis Real Estate Partners
focused on high-quality value-add self-storage assets in the
Northeastern United States. The
Newmark team was led by Vice Chairmen and Co-Heads of the Debt
& Structured Finance team Dustin
Stolly and Jordan
Roeschlaub.
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Transactions will comprise both marketed and off-market
acquisitions of high-quality value-add properties and certificate
of occupancy lease-up plays with the goal of creating a diverse
portfolio of assets. The Venture was seeded by the acquisition of a
1,120-unit Class A self-storage asset in New Rochelle, New York. The 96,693-square-foot
facility consists of a single, four-level building that is 100%
climate controlled. The asset, which just received its certificate
of occupancy, will allow the opportunity for immediately lease-up
at market rents to garner maximum rental revenue. CIBC provided the
financing for this transaction.
The Venture will utilize Maya's existing "Drive Up Storage"
brand, a tech-forward operating system, remote management and deep
data analytic capacity, and on-site, kiosk-driven customer
interaction and interfacing.
"Maya has great success in the self-storage space and this new
venture with Artemis will allow them to vastly expand their
platform as they grow to become one of the preeminent storage
operators in the region," commented Roeschlaub.
"This opportunity was extremely well received by the capital
markets community which speaks to the availability of capital for
operators with unique business plans focused on aggregating
alternative real estate assets," added Stolly.
The effort to raise capital for the project is part of Newmark's
continued push into complex joint venture financing. Led by Stolly
and Roeschlaub, the initiative focuses on raising capital for both
platform and programmatic joint ventures. The group recently
arranged a $1 billion cold storage
platform venture backed by $350
million in equity.
About Maya Capital Partners
Maya Capital Partners is a real estate investment and
development company based in New York
City. Established in 2016, the Firm is focused on acquiring
multifamily and self-storage assets in strong markets throughout
the Northeastern United States. To
date, Maya Capital Partners has completed acquisitions
independently, as well as through strategic joint venture
partnerships with institutional operators. The Firm currently owns
and operates multifamily and self-storage assets in the Tri-State
area and is currently leading development projects in various
stages of completion.
About Artemis Real Estate
Partners
Artemis Real Estate Partners is an investment manager based in
metropolitan Washington, DC, with
offices in New York City,
Los Angeles and Atlanta. Artemis has raised $8+ billion of
capital across core, core plus, value-add and opportunistic
strategies. The firm makes equity and debt investments in real
estate across the United States,
with a focus on multifamily, industrial, office, retail,
hospitality, senior housing and medical office. Artemis specializes
in joint venture partnerships and direct investments.
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. Newmark generated revenues of approximately
$3.1 billion for the twelve months
ending September 30, 2022. Newmark's
company-owned offices, together with its business partners, operate
from approximately 180 offices with nearly 6,700 professionals
around the world. 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.
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SOURCE Newmark Group, Inc.