#USA #Charleston #Newmark Group #PORT 32 #BAWAG Group

Newmark Secures $400 Million Financing for PORT 32 Marinas

In a significant move within the commercial real estate sector, Newmark Group, Inc. (Nasdaq: NMRK) has facilitated a substantial $400 million credit facility aimed at benefiting PORT 32 Marinas. This financing arrangement is poised to not only refinance PORT 32's existing portfolio of coastal marinas but also to support the future acquisition of additional marina properties. The successful orchestration of this financing was led by Newmark's Co-Head of Global Debt Structured Finance, Jordan Roeschlaub, alongside Vice Chairman Chris Kramer and Co-Head Jonathan Firestone. The financial backing for this extensive project comes from the Austria-based BAWAG Group, a key player in the financial services landscape.

Jordan Roeschlaub emphasized the strategic importance of this financing: “This funding underscores the robust and sustained demand for premier coastal marinas throughout the Eastern U.S. The transaction reflects a forward-looking strategy that leverages the unique appeal of coastal marinas as essential infrastructure for both recreation and commerce, and stands as a testament to both the strength of the asset class and its long-term growth potential.”

A Closer Look at PORT 32 Marinas

PORT 32, headquartered in Charleston, South Carolina, is recognized as a leader in the ownership, operation, and development of both dry and wet slip marina properties. With a commitment to excellence, PORT 32 utilizes its expertise to provide unrivaled services in marina asset management. The company boasts a rapidly expanding collection of Class A marina assets located in top-tier markets, ensuring a premium experience for its customers.

As PORT 32 continues to establish itself as a formidable force in the maritime real estate industry, the company focuses on enhancing its portfolio through strategic acquisitions and developments. This growth-oriented approach signifies a future where coastal marinas are not only viewed as leisure destinations but also as vital components of economic infrastructure supporting commerce.

Newmark's Role in the Deal

Newmark Group, Inc. stands as a powerhouse in the realm of commercial real estate, providing services throughout the entirety of the property life cycle. The firm is uniquely positioned to understand the nuanced requirements of its clientele, which ranges from institutional investors to global corporations and individual occupiers. By leveraging its expansive platform and market intelligence, Newmark is adept at delivering tailored financing solutions that meet the specific needs of each client.

The revenue generated by Newmark for the twelve months concluding September 30, 2024, reached approximately $2.6 billion, reflecting the company's strong position in the real estate landscape. Furthermore, with nearly 170 offices globally and over 7,800 professionals at its disposal, Newmark is well-equipped to handle high-profile transactions such as the one involving PORT 32 Marinas.

The Future of Coastal Marinas

The transaction involving the PORT 32 financing underscores a broader trend within the real estate market, where coastal properties are increasingly viewed through the lens of both recreational value and commercial potential. As urban areas grow and coastal access becomes more appealing to populations seeking recreational opportunities, the demand for well-managed marina facilities is expected to rise accordingly. This evolution presents a lucrative opportunity for real estate investors and developers alike.

In conclusion, with Newmark’s extensive expertise and PORT 32's strategic ambition, this recent financing marks not just a pivotal moment for these entities, but potentially the beginning of a new chapter in the coastal marina industry, where adaptation and growth will define success in the years to come. For more information about PORT 32 Marinas, visit port32marinas.com and to explore Newmark's extensive offerings, check out nmrk.com.