Newmark Secures $425 Million Loan for National Self-Storage Portfolio Refinancing

Newmark Group, Inc. arranged a $425 million loan for a national portfolio of 78 self-storage properties on behalf of Centerbridge Partners and Merit Hill Capital. The portfolio totals nearly 32,000 units across 4.65 million rentable square feet and has experienced NOI growth of over 18% since 2023. The loan was secured from Citigroup and Goldman Sachs.

Newmark Group, Inc. (NASDAQ: NMRK) has successfully arranged a $425 million refinancing loan for a national portfolio of 78 self-storage properties on behalf of Centerbridge Partners and Merit Hill Capital. The portfolio, managed by leading platforms Extra Space, CubeSmart, and Argus, comprises 32,000 units across 4.65 million rentable square feet. The refinancing was facilitated by Citigroup and Goldman Sachs.

The portfolio has demonstrated remarkable performance with Net Operating Income (NOI) growth exceeding 18% since 2023. The strong market indicators, including a 90.7% same-store occupancy rate nationwide, are supported by robust consumer fundamentals and efficient revenue management systems. The loan will help the portfolio maintain its growth trajectory and strengthen its financial position.

Centerbridge Partners, L.P. and Merit Hill Capital are private investment management firms with significant assets under management. Centerbridge Partners, founded in 2005, has approximately $43 billion in assets under management, while Merit Hill Capital, founded in 2016, has been an active investor in self-storage properties for over 19 years. Both firms have a proven track record of managing and growing self-storage portfolios.

Newmark Group, Inc., a world leader in commercial real estate, provides comprehensive services and products tailored to each client. With a global reach and market intelligence, Newmark offers superior service to clients across the industry spectrum. For the twelve months ended June 30, 2025, Newmark generated revenues of over $2.9 billion and operates from 165 offices with over 8,400 professionals across four continents.

The refinancing of the self-storage portfolio highlights the strong demand for self-storage units across the U.S. and the resilience of the sector despite market fluctuations. The strategic location of the properties and the experienced management teams are key factors contributing to the portfolio's success. The loan will enable the portfolio to leverage growth opportunities and maintain its competitive edge.

References:

[1] https://www.stocktitan.net/news/NMRK/newmark-secures-425-million-refinancing-for-national-self-storage-qet7f7lmgztu.html
[2] https://www.prnewswire.com/news-releases/newmark-secures-425-million-refinancing-for-national-self-storage-portfolio-302547198.html
[3] https://www.nasdaq.com/articles/wiley-posts-2-revenue-gain-fiscal-q1