Newmark Arranges $67.5 Million Refinancing for Class A Multifamily Community Rockwell at Crown in Maryland

October 14, 2025 9:00 AM

Newmark announces that the Company has arranged a $67.5 million loan on behalf of Sentinel Real Estate Corporation to refinance Rockwell at Crown, a recently developed 335-unit multifamily community in Gaithersburg, Maryland. Newmark Multifamily Capital Markets Executive Managing Director Jim Badolato, Managing Director Rob Cantizano, Vice Presidents Greg Primiano and Deric Obeldobel and Elias Sulpizio, represented the sponsor and secured the financing through Fannie Mae.

“With interest rates beginning to ease and sentiment pointing toward further stability—we are seeing renewed momentum in the market,” said Badolato. “This transaction highlights the increase in both pent-up and discretionary refinancings, signaling a broader unlocking of capital markets activity.”

Completed in 2022, Rockwell at Crown offers a mix of one-, two- and three-bedroom units, with select layouts featuring dens and built-in desks for remote work. Residences include modern finishes such as stainless-steel appliances, glass-top ranges, custom walk-in closets and private balconies or patios. Community amenities include a resort-style pool with sun shelf and cabanas, a state-of-the-art fitness center, EV charging stations, co-working areas and landscaped outdoor spaces designed for connection and convenience.

“We are grateful for the support and guidance of the Newmark team in securing this important financial milestone for the Rockwell at Crown. This transaction continues the fund’s strategy of investing in modern, highly amenitized residential properties located in areas that benefit from strong economic fundamentals and growing populations,” said George Tietjen, Managing Director at Sentinel.

Located just outside Washington, D.C., Rockwell at Crown benefits from direct access to I-270, US-28 and the Shady Grove Metro Station. The property is adjacent to Downtown Crown and Rio Lakefront, two dynamic mixed-use destinations, and is proximate to major employers along the I-270 Technology and Life Sciences Corridor, as well as institutions such as Johns Hopkins University and the University of Maryland.

About Sentinel Real Estate
Established in 1969, Sentinel Real Estate is a New York City-based independently owned real estate investment management firm. The firm currently has $9.3 billion of institutional-quality real estate assets under management on behalf of 118 domestic and international clients. Sentinel maintains offices throughout the United States, Amsterdam and Australia. The firm’s portfolio currently comprises nearly 29,000 apartment units and 5.2 million square feet of commercial real estate. Sentinel operates on a vertically integrated platform with 800 employees performing all phases of the investment process including on-site property management. For more information about Sentinel, please visit www.sentinelcorp.com.

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 June 30, 2025, Newmark generated revenues of over $2.9 billion. As of June 30, 2025, Newmark and its business partners together operated from 165 offices with over 8,400 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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