Newmark Secures Structured Equity for Tailwind Group, Expanding Student Housing Portfolio

July 11, 2024 11:00 AM

Newmark announces the firm has arranged a structured equity facility to finance programmatic student housing acquisitions throughout the U.S. Newmark secured the continuing equity source on behalf of the sponsor, Tailwind Group, a Minnesota-based real estate development, management and leasing firm.

Newmark Vice Chairman and Head of the company’s Student Housing group Ryan Lang, Managing Director Jack Brett and Director Ben Harkrider led the equity placement.

“Tailwind is one of our most valued clients, and their continued success and growth trajectory has been incredible to see,” said Lang. “We are grateful for the opportunity to advise on their strategic growth initiatives moving forward.”

Tailwind Group recently leveraged the facility to complete its first acquisition, The Reserve on West 31st , a 192-unit student housing community just 1.5 miles from The University of Kansas (KU) in Lawrence, Kansas. Built in 1999, the property offers a mix of three and four-bedroom floorplans and amenities including an on-site study lounge, a pool and hot tub, a 24-hour fitness center and a picnic area.

“We see great upside in this opportunity upon execution of our capital improvement plan combined with the strong fundamentals in the Lawrence market,” said Brandon Smith, Tailwind Group’s Vice President of Operations & Development. “This acquisition lined up perfectly with our opportunistic, value-add strategy.”

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 ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of March 31, 2024, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,600 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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