NEW
YORK, Sept. 26, 2022 /PRNewswire/ -- On behalf
of citizenM, Newmark has arranged a $210
million financing facility for a 904-key portfolio of four
under construction and soon-to-be-delivered citizenM hotels. The
Newmark team was led by Dustin
Stolly and Jordan
Roeschlaub, Vice Chairmen and Co-Heads of the Debt &
Structured Finance team, and Senior Managing Director Nick Scribani.
The portfolio comprises citizenM hotels anchoring strong
submarkets. citizenM anchor investors include GIC, Singapore's sovereign wealth fund and APG
Asset Management, a Dutch pension system. Each subject property
commands a superior location proximate to many local demand
drivers, such as large corporations and popular dining, shopping
and entertainment districts. All four markets generate strong
demand from business travel as well.
Each purpose-built hotel will offer amenities tailored to
today's business and leisure travelers, such as 24/7 fitness
centers, spacious and airy societyM meeting rooms, and canteenM
restaurants that provide full-day food and beverage service.
Additionally, certain hotels will feature ultra-desirable
amenities, including cloudM rooftop bars and expansive terraces.
Consistent with the global citizenM portfolio, each hotel offers a
quick and intuitive check-in process, smart technology controlled
by an in-room tablet and top-tier room quality.
"citizenM has the perfect room design to capture the
live/work/play demand trends today's generation of travelers seek;
these four new hotels will continue to push the brand to new
heights as citizenM continues its rapid U.S. expansion," Stolly
commented.
Roeschlaub added, "citizenM provides a unique guest experience
that the modern traveler seeking attainable luxury craves. We are
excited to see the brand grow across the
United States by adding these hotels."
About citizenM
citizenM, with its institutional backing by APG and GIC (two of
the world's largest pension and sovereign wealth funds, with an AUM
of over $692 billion and $390 billion, respectively), has quickly become
one of the most recognizable vertically integrated hotel operators
in the world. citizenM currently boasts 24 hotels and 5,514 rooms
on three continents, with another 17 hotels and 4,108 rooms in its
pipeline over the next three years. citizenM manages all its hotels
and owns the majority of them.
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 nearly $3.2 billion for the twelve months ending
June 30, 2022. Newmark's
company-owned offices, together with its business partners, operate
from approximately 170 offices with over 6,500 professionals around
the world. To learn more, visit nmrk.com or
follow @newmark.
Discussion of Forward-Looking
Statements about Newmark
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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.