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Newmark Secures $947 Million Loan for Park La Brea Apartments in Los Angeles, California

PR Newswire - Mon Jun 26, 2023

Freddie Mac Continues Financing Support for Workforce Housing in Historic Rental Community

LOS ANGELES, June 26, 2023 /PRNewswire/ -- Newmark1 Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading adviser and service provider to large institutional investors, global corporations, and other owners and occupiers of commercial real estate announces it has secured a $947 million loan for Los Angeles' historic Park La Brea, the largest apartment community on the West Coast. Newmark sourced financing on behalf of repeat borrower Prime Residential ("Prime") to retire existing debt. Freddie Mac expects to securitize the loan through its K-Deal program.

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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