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Newmark Facilitates $90M Green Loan for GDSNY with Deutsche Pfandbriefbank AG at 1245 Broadway

PR Newswire - Fri Mar 10, 2023

1245 Broadway is a newly constructed Class A+ boutique office building in NoMad, New York.

NEW YORK, March 10, 2023 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading full-service commercial real estate business, announces Corem AB and GDS Development LLC (GDSNY) have closed a $90 million loan on their trophy office tower at 1245 Broadway with German bank Deutsche Pfandbriefbank AG (pbb), one of Europe's leading real estate financing institutions. Newmark's Debt & Structured Finance team secured the loan on behalf of ownership. The low-leverage take-out facility will include financing current and future tenant fit-outs for the 200,000-square-foot tower in NoMad.

Read more at prnewswire.com

Provided Content: Content provided by PR Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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