Newmark Arranges $80 Million Loan Portfolio Sale on Behalf of Webster Bank

July 20, 2023 9:00 AM

Newmark has arranged the sale of an $80 million Performing Commercial Real Estate Loan Portfolio (the “Portfolio) on behalf of Connecticut-based Webster Bank. The Portfolio comprises 32 Mortgage Loans, including office and mixed-use loans across Connecticut, New Jersey and New York. Newmark was the sole broker on the transaction, with Executive Managing Director Steven Schultz leading the team’s efforts.

The deal underscores Newmark’s loan sale expertise and ongoing commitment to working collaboratively with regional banks to identify opportunities around commercial real estate loans across various asset types. The collateral for the loan sale consisted of two commercial property types, office and mixed-use, across four secondary types. The largest concentration is in office (56%), followed by office/retail (25%), office/warehouse (11%), and medical (8%).

“Leveraging our best-in-class network and unmatched market intelligence, we are proud of our ability to forge valuable connections between regional banks and the real estate community,” said Schultz. “As the economic climate continues to evolve, we expect financial institutions across the country to continue to find ways to optimize their lending portfolios, opening up major opportunities for savvy investors. The Newmark team looks forward to partnering with banks of all sizes as they navigate the future for their mixed-use and office loans.”

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. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of March 31, 2023, Newmark’s company-owned offices, together with its business partners, operate from over 170 offices with approximately 7,300 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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