#United States #New York #Blackstone #Newmark Group #Crow Holdings

Newmark's Key Role in the Recapitalization Deal

In a significant move within the commercial real estate sector, Newmark Group, Inc. has played a pivotal role in advising Crow Holdings on the recapitalization of an industrial portfolio measuring six million square feet. This portfolio, which is positioned in Texas and Illinois, was recently acquired by Blackstone through its Core+ funds, securing a 95% stake across twenty-five Class A buildings located in key urban areas like Dallas, Houston, and Chicago.

Newmark, a recognized leader in commercial real estate advisory services, deployed a seasoned team led by Dom Espinosa, Senior Managing Director, and other notable figures such as Jack Fraker, Dustin Volz, and Kevin Donner. Their expertise was crucial in navigating this high-stakes transaction that underscores the robust appetite for industrial real estate among investors.

Chad Lavender, Newmark's President of Capital Markets for North America, stated, "Capital markets activity in high-growth U.S. markets continues to demonstrate strong investor appetite, with industrial remaining a top target for long-term capital." This sentiment highlights the confidence in the industrial sector, especially in thriving markets.

Crow Holdings, founded by the influential Trammell Crow in 1948, has established itself as a significant player in real estate development and investment management, boasting assets of approximately $33 billion. The company's extensive portfolio includes multifamily and industrial development platforms, reflecting a long-standing commitment to quality in the sector.

Fraker noted the critical importance of this transaction by asserting, "This noteworthy transaction underscores the continued conviction in industrial as a leading asset class – particularly in high-performing markets. Demand for well-located, Class A logistics space remains robust, and this portfolio represents the type of institutional-quality product investors are eager to acquire." His remarks capture the essence of this deal's potential impact on the market.

In addition to the financial metrics, the partnership between Blackstone and Crow Holdings represents an endorsement of the industrial markets in Dallas, Houston, and Chicago. Espinosa emphasized, "This closing brings together a unique partnership between the world's largest real estate investor and one of the nation's premier, privately-held real estate development and investment firms. It's a strong endorsement of the Dallas, Houston, and Chicago industrial markets, the infill nature of the assets, and the long-term value of state-of-the-art building specifications."

Legal counsel for Crow Holdings was provided by Fried Frank, reinforcing the complexities of such substantial transactions.

Newmark's extensive suite of services enables it to provide tailored solutions that cater to a diverse range of clients, from large institutional investors to corporations and other stakeholders in the real estate landscape. The company's demonstrated capability to service its clients effectively positions it as a key player in the evolving dynamics of commercial real estate.

As of March 31, 2025, Newmark generated over $2.8 billion in revenues and operates approximately 165 offices with a workforce comprising around 8,100 professionals across four continents. This global reach paired with localized market intelligence ensures that Newmark can navigate the intricacies of various property markets successfully.

To stay informed about future developments in the commercial real estate sector, follow Newmark's updates at nmrk.com or their social media presence @newmark. This recapitalization saga not only highlights Newmark’s advisory prowess but also reflects ongoing trends in industrial real estate that are likely to shape the market in the years to come.