CHICAGO, June 23, 2021 / PRNewswire / – Newmark, on behalf of InterPark Holdings (InterPark), announces a $ 565 million five-year loan secured by a portfolio of 26 cross-secured parking lots located in nine U.S. cities, including Chicago, Philadelphia, Saint Louis as well as Boston… Executive managing director Joel Simmons The Newmark Debt and Structured Finance teams have arranged funding. The loan was placed with Apollo Global Management (Apollo) on behalf of a REIT-managed mortgage company, Apollo Commercial Real Estate Finance Inc. (NYSE: ARI) and the Apollo insurance platform.
“These parking facilities, hit by COVID-19 couch orders, have recovered quickly and significantly based on driving preferences, location and a diverse set of demand generators,” Simmons said.
“InterPark’s portfolio of quality parking lots, customer-friendly contactless access and payment mobility systems allow the company to confidently recover from the consequences of the pandemic,” added Marshall Peck, General Director of InterPark.
Founded in 1997, InterPark has grown to become one of the largest owners, operators and developers of private parking in United States… The company currently owns 58 properties in various United States and operates over 100 properties in various central business districts as well as outside airports. InterPark continues to invest and expand the latest technology to streamline its operations and increase the number of contactless payments that have become popular during the pandemic.
Apollo Commercial Real Estate Lending Platform Leaded Worldwide Scott Weinerhad $ 30 billion assets under management as of March 31, 2021 and invested more $ 46 billion debt investments in commercial real estate since the launch of the platform in 2009.
Newmark Group, Inc. (Nasdaq: NMRK) together with its subsidiaries (Newmark) is a global leader in commercial real estate, seamlessly providing every stage of the real estate lifecycle. Our comprehensive portfolio of services and products is individually tailored for each client: from owners to tenants, from investors to founders, from growing startups to leading companies. In 2020, Newmark received more than $ 1.9 billion… Newmark together with LondonKnight Frank and its independent licensees operate worldwide from approximately 490 offices, employing 19,300 professionals. To find out more visit nmrk.com or follow @newmark…
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SOURCE Newmark Group, Inc.