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NKF Secures $60 Million in Financing on Behalf of RealSource Residential for an 816-Unit Multifamily Portfolio

New York, NY (12/20/2018)

9:00 AM

Newmark Knight Frank is pleased to announce that its New York-based Debt & Structured Finance team has secured $60 million in financing on behalf of RealSource Residential from Varde Partners for the refinancing of a portfolio of multifamily properties located in Greensboro, North Carolina and Fairfield, Ohio. The NKF team that arranged the transaction was led by Vice Chairmen and Co-Heads Dustin Stolly and Jordan Roeschlaub, Managing Director Nick Scribani and Associate Director Josh Egert.

The portfolio of garden-style buildings totals 816 units and was acquired between 2015 and 2016. RealSource implemented a strategy of improving common areas and unit interiors across the properties.

"RealSource has an impeccable track record in the value-add multifamily space," said Mr. Roeschlaub. "This financing allows them to lower their cost of capital substantially while they complete the remainder of the business plan. The loan also offers near-term flexibility that enables RealSource to convert to fixed-rate financing efficiently."

The RealSource group of companies was established in 1989 and focuses on value-add acquisitions of multifamily assets across the United States. The company's principals Mike Anderson and Nate Hanks have more than 50 years of combined commercial real estate experience and are known industry leaders.

RealSource's management team has decades of experience safeguarding assets and maximizing value through strategically timed investing supported by in-depth and thorough research. RealSource benefits from its proprietary Econometric Model that the company started using in 1989. This model provides a core competency that enables the company to invest in the right place at the right time.

Tracking 364 US metro markets, RealSource provides an opportunistic real estate investment and development strategy. The company and its clients have acquired more than 50 multifamily properties spanning over 12 million square feet and 12,700 units since 2002, as well as has generated more than $575 million in successful shared equity acquisitions and more than $1 billion with individual investors since 1989.

About Newmark Knight Frank
Newmark Knight Frank ("NKF"), operated by Newmark Group, Inc. ("Newmark Group") (NASDAQ: NMRK), is one of the world's leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF's 16,000 professionals operate from approximately 430 offices on six continents. NKF's investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.

Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group 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 Group 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 Group'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.