Newmark Arranges Refinancing of Class A Multifamily Community in Frederick, Maryland

September 16, 2025 9:00 AM

Newmark announces the Company has arranged financing on behalf of The Goldstar Group to refinance EDE, a newly delivered 350-unit Class A multifamily community located in Frederick, Maryland. Newmark Multifamily Capital Markets Vice Chairman Adam Randall, Managing Director John Westby-Gibson and Vice President Drake Blodgett secured the fixed-rate financing through Fannie Mae.

“EDE represents a best-in-class multifamily development in one of Maryland’s fastest-growing submarkets,” said Randall. “This refinancing provided Goldstar with a strategic solution to retire its construction debt and secure long-term stability during lease-up, positioning the asset for continued success.”

Newmark executed the refinancing through Fannie Mae’s Near Stabilization Program, enabling the borrower to pay off its construction loan prior to full stabilization. The loan terms included a five-year, interest-only structure and stabilized underwriting, allowing Goldstar to capitalize on favorable market conditions and enhance long-term asset performance.

“Thanks to the Newmark team, we were able to secure a great Fannie Mae execution and put the asset on stable footing as we move closer to finishing the lease-up of the property,” said Michael Brodsky, Managing Partner at The Goldstar Group.

Completed in 2024, EDE delivers a premier residential experience minutes from Downtown Frederick. The property offers a mix of studio, one-, two- and three-bedroom homes with high-end finishes, expansive spa bathrooms, walk-in closets and private patios.

Residents enjoy access to an elevated suite of amenities, including a resort-style pool with sun shelf and daybeds, a state-of-the-art clubhouse, and a clubroom with billiards and entertainment kitchen, 24-hour fitness center, coworking spaces and coffee bar.

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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