Newmark Secures $830M Wells Fargo Financing for 8,340-Pad Housing Portfolio
Newmark arranged an $830 million financing with Wells Fargo to acquire and refinance a 36-asset manufactured housing portfolio. The institutionally managed portfolio comprises 8,340 pads across predominantly four- to five-star communities with over 99% occupancy and 95% residential ownership in supply-constrained markets supporting rent growth.
1. Deal Arrangement
Newmark Group arranged an $830 million portfolio financing with Wells Fargo to support RHP Properties and an institutional capital partner in acquiring and refinancing a 36-asset manufactured housing portfolio. The deal was secured by Newmark’s Global Debt & Structured Finance team.
2. Portfolio Composition
The portfolio consists of 8,340 manufactured housing pads across predominantly four- to five-star communities, with residential ownership exceeding 95% and physical occupancy above 99%. The assets are concentrated in supply-constrained regions with limited new development.
3. Market Dynamics
Manufactured housing benefits from durable cash flows, high barriers to entry and long-term affordability trends. Sustained population growth and restricted supply in target markets underpin ongoing rent growth and stable asset performance.
4. Strategic Impact
This financing deal enhances Newmark’s structured finance credentials and generates substantial advisory fees, strengthening its commercial real estate service offerings. Successful execution may position Newmark for additional large-scale portfolio mandates.