Newmark Arranges $415M Refinance for 2.4M Sq Ft Grocery-Anchored Portfolio
Newmark Group arranged a $415 million refinance loan from HPS Investment Partners on behalf of DRA Advisors and KPR Centers for a 2.4 million rentable square foot grocery-anchored retail portfolio in the Northeast. The transaction covers 13 open-air shopping centers with prime infill locations and strong barriers to entry.
1. Financing Arrangement Details
Newmark's Global Debt & Structured Finance team secured a $415 million loan from HPS Investment Partners on behalf of DRA Advisors and KPR Centers. The deal was co-led by Jordan Roeschlaub and Nick Scribani, reinforcing Newmark’s capacity to execute large-scale retail refinancing.
2. Portfolio Composition
The financed portfolio comprises 13 open-air shopping centers totaling approximately 2.4 million rentable square feet across densely populated infill markets in the Northeast. Twelve of the assets are anchored by major grocery tenants and benefit from high consumer traffic, prime trade-area positioning and significant barriers to entry.
3. Strategic Implications
This transaction enhances Newmark's structured finance pipeline and underscores its expertise in retail asset financing. A successful execution could drive additional mandates from institutional investors seeking capital solutions for complex real estate portfolios.