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NKF Capital Markets Completes the Sale of The Summit Office Campus in Aliso Viejo, CA

Newport Beach, CA (06/05/2018)

9:00 AM

NKF Capital Markets has completed the sale of The Summit Office Campus, a five-building, 479,451-square-foot mid-rise office project in Aliso Viejo, CA. This transaction is also significant as it marks the largest office investment sale over the past six months in Orange County.

NKF Capital Markets Co-Head of US Capital Markets Kevin Shannon, Executive Managing Directors Paul Jones, Brunson Howard and Ken White and Managing Directors Rick Stumm and Blake Bokosky represented the seller, a global investment advisor. The buyer, Rockpoint Group, LLC, was self-represented.

Built between 1998 and 2000, and located at 65, 75, 85, 95 and 101 Enterprise on approximately 20.7 acres, The Summit Office Campus consists of three, three-story and two, four-story multi-tenant office buildings which are currently 79 percent occupied by a roster of notable tenants including Tech Space, NuVasive, Inc., Pacific World Corp., and Microsoft Corp., among others. The campus offers serene greenbelts and outdoor collaborative areas, water features, large floorplates, tall ceiling heights, mountain views, and ample structured and surface parking. The property is located within the South Orange County submarket and offers direct access to and high visibility from the San Joaquin Hills (SR-73) tollway which sees approximately 77,000 vehicles per day. The location also offers easy access to the 405 Freeway and State Route 133.

"The Summit Office Campus provided the buyer with an institutionally built, managed and maintained office project in the heart of the amenity-rich master-planned community of Aliso Viejo, as well as greater South Orange County," said Jones. "Rockpoint intends to undergo a heavy reposition and re-branding on this asset in order to push market rents, drive leasing velocity and create a very unique office campus like nothing else in the submarket."

The Summit Office Campus is within walking distance to a number of retail amenities and restaurants at the Town Center at Aliso Viejo, a regional center with more than 30 restaurants, an Edwards movie theater, Trader Joe's, Ralph's, Walgreens and CVS. The asset is also near almost 2,000 multi-housing units as well as a wide array of single family communities and is adjacent to The Summit Renaissance ClubSport Aliso Viejo, a luxury fitness center.

The Summit Office Campus is the largest office investment sale this year in Orange County and is the second investment sale transaction over $100 million for the team led by Kevin Shannon after closing City Tower in Orange, California for over $147 million in March.

This transaction is the fourth sale that is over $100 million since the fourth quarter of 2017 in Orange County. The NKF Capital Markets team has represented the sellers on three of those sales.

About Rockpoint Group
Rockpoint Group, L.L.C. ("Rockpoint") is a real estate private equity firm and Registered Investment Adviser with its headquarters in Boston and with additional primary offices in San Francisco and Dallas. Rockpoint employs a fundamental value approach to investing and targets select product types located primarily in major coastal markets in the United States. Rockpoint utilizes a consistent strategy across distinct return profiles through its opportunistic and growth and income investment programs. Rockpoint targets assets with intrinsic long-term value, at attractive prices relative to replacement cost and stabilized cash flows, and with particular emphasis on value creation opportunities and complex situations. Since 1994, Rockpoint's co-founders with others have sponsored 13 commingled funds and related co-investment vehicles through Rockpoint and a predecessor firm. In total, they have raised approximately $19 billion in capital commitments and invested or committed to invest in 405 transactions with a total peak capitalization in excess of $55 billion (inclusive of fund equity, co-investor equity and debt).

About NKF Capital Markets
NKF Capital Markets, operated by Newmark Group, Inc., is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.

We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.

Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol "NMRK", is a publicly traded subsidiary of BGC Partners, Inc. ("BGC"), a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol "BGCP". BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol "BGCA".

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not 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. 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 and BGC's Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.