Newmark Announces Major $425 Million Refinancing for Self-Storage Portfolio Across the U.S.
Newmark Secures $425 Million Refinancing
On September 4, 2025, Newmark Group, Inc. (Nasdaq: NMRK) achieved a significant milestone by arranging a $425 million loan for Centerbridge Partners and Merit Hill Capital. This financing will be utilized for the refinancing of a strategically located national portfolio comprising 78 self-storage properties. The portfolio is expansive, covering almost 4.65 million rentable square feet and nearly 32,000 units spread across various states in the U.S.
The refinancing deal was orchestrated by key figures at Newmark, including Co-President of Global Debt & Structured Finance Jordan Roeschlaub, Vice Chairman Nick Scribani, and Director John Caraviello. The financing was sourced from prestigious financial institutions, namely Citigroup and Goldman Sachs.
Portfolio Performance and Management
Under the ownership of the sponsors, the portfolio has demonstrated remarkable resilience with an over 18% growth in Net Operating Income (NOI) since 2023. The properties are managed by renowned national self-storage platforms such as Extra Space, CubeSmart, and Argus, ensuring operational excellence and customer satisfaction.
According to Newmark's research team, the demand for self-storage solutions throughout the United States remains robust, as indicated by a 90.7% same-store occupancy rate and high engagement reflected in increased Google search traffic for self-storage services. The sector has effectively leveraged sophisticated revenue management platforms, enhancing operational efficiency while maintaining strong NOIs amid fluctuating market demands.
About Centerbridge Partners
Founded in 2005, Centerbridge Partners, L.P. is a private investment management firm. The company employs a flexible approach across various investment disciplines, including Private Equity, Private Credit, and Real Estate. They aim to create the most appealing investment opportunities for their clients. As of June 30, 2025, Centerbridge boasts approximately $43 billion in assets under management with operations in both New York and London.
About Merit Hill Capital
Established in 2016 by Liz Raun Schlesinger, Merit Hill Capital specializes in real estate investments, particularly in self-storage. Merit Hill has been an active investor, acquiring 535 self-storage facilities across 38 states, encompassing more than 34.4 million rentable square feet. The firm awards daily operations to third-party management companies and focuses on value-adding initiatives and capital improvements to optimize performance and maximize returns for investors.
About Newmark
Newmark Group, Inc. stands as a leader in commercial real estate, providing a comprehensive array of services tailored for different stakeholders, including investors, occupiers, and owners. The company generated over $2.9 billion in revenues for the twelve months ending June 30, 2025. With 165 offices globally, staffed by over 8,400 professionals, Newmark leverages its vast market intelligence to enhance client relationships and deliver exceptional service.
Conclusion
This refinancing initiative highlights the ongoing growth and evolution within the self-storage sector, reflecting both strong operational metrics and heightened demand. With the backing of key financial partners and the expertise of reputable management teams, Newmark continues to affirm its position as a significant player in the commercial real estate arena.
Topics Business Technology）
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