- Newmark Group Inc NMRK Has arranged $360 million in funding for a 50-asset, 3.9 million square foot national self-storage portfolio on behalf of Angelo Gordon and Andover Properties.
- It added that the portfolio is well leased and located in strong primary and sub-markets across the country.
- The team that closed the debt was led by Vice Chairs and Co-Heads of Newmark Debt and Structured Finance, Jordan Roeschlaub and Dustin Stolly.
- “Key to the success of this transaction was the strength of the sponsorship between Andover, with its operating platform, Storage King USA, and Angelo Gordon, with his extensive industry experience and strong equity commitment to the portfolio,” said Stolly.
- Goldman Sachs provided the loan and SPC LLP represented the borrowers.
- Angelo Gordon is an investment firm interested in real estate. It has acquired over $40 billion worth of real estate worldwide.
- Andover Properties is a United States owner and operator of self-storage facilities with a portfolio totaling over 12.1 million square feet.
- Price promotion: NMRK shares are trading up 1.79% at $7.98 on the latest check Monday.
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