Newmark Arranges $113 Million Financing for San Fernando Mixed-Use Campus on Behalf of Affinius Capital and Pendulum Property Partners

Image credit to Pendulum Property Partners & Affinius Capital

January 8, 2025 9:00 AM

Newmark announces the Company has arranged $113 million in financing for The Mix, a 469,749-square-foot, three-building mixed-use campus situated roughly 25 acres in the heart of Los Angeles’ San Fernando Valley. Newmark’s Debt & Structured Finance team led by Co-President Jonathan Firestone alongside Vice Chairman Blake Thompson, Director Peter Mavredakis and Associate Director Jack Condon arranged the financing, which was provided by Rialto.

“The Mix exemplifies the type of high-quality, credit-anchored campus that institutional lenders seek in today’s market,” said Firestone. “Its scale, diversified tenancy and recent capital program create a resilient cash flow profile and a compelling long-term investment for Affinius Capital and Pendulum Property Partners.”

Located at 8500 Balboa Blvd. and 8420-8440 Balboa Blvd., the property has undergone recent capital improvements, driven by Pendulum Property Partners and Affinius’ value-add execution including the strategic conversion of former office space to industrial use, the successful lease-up of prior vacancy and substantial upgrades to tenant spaces. These enhancements and a comprehensive amenity package contributed to strong tenant retention, as demonstrated by long-term headquarters occupancies and multiple tenant expansions.

The campus hosts a diverse tenant base across industrial, R&D/flex and retail uses. Key anchors include Harman International, an S&P AA-rated subsidiary of Samsung, HemaCare, a division of Charles River Laboratories and a national investment-grade rated tenant. Over 50% of the tenancy is investment-grade, with a weighted average lease term exceeding six years. This supports stable in-place cash flows and solid credit quality for the property.

About Affinius Capital LLC
Affinius Capital® is an integrated institutional real estate investment firm focused on value-creation and income generation. With a 40-year track record and $61 billion in gross assets under management, Affinius has a diversified portfolio across North America and Europe providing both equity and credit to its trusted partners and on behalf of its institutional clients globally. For more information, visit www.affiniuscapital.com.

About Pendulum Property Partners
Pendulum Property Partners is a privately held real estate firm that owns, operates, develops and manages commercial real estate. Led by an innovative and experienced team, Pendulum Property Partners specializes in creating and executing upon value-add strategies and offers a full range of services including acquisitions and dispositions, asset management, property management, construction and development. Since its launch in 2016, Pendulum Property Partners has acquired over $1 billion of real estate in Southern California in joint ventures with institutional capital. The portfolio consists of 3.1 million square feet of office, retail and industrial space.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2025, Newmark generated revenues of over $3.1 billion. As of September 30, 2025, Newmark and its business partners together operated from approximately 170 offices with over 8,500 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.