Newmark Assists KBS in $100 Million Sale and DFW Land in $62 Million Financing of Park Place Village in Suburban Kansas City

September 30, 2025 11:00 AM

Newmark announces the Company has assisted KBS in the $100 million sale and DFW Land in arranging a $62 million acquisition loan for Park Place Village, a 10-building, 480,000-square-foot trophy office and retail property in Leawood, Kansas, a suburb of Kansas City.

Newmark’s Chicago and Dallas Capital Markets teams, led by Senior Managing Director Derek Fohl and Vice Chairman Gary Carr respectively, cooperated with local licensees to represent seller KBS in the transaction, with support from Executive Managing Director Jim Postweiler, Senior Managing Director Peter Harwood, Associate Director Jack Trager, Vice Chairmen Robert Hill and Chris Murphy and Director Austin Sheahan. Associate Jake Paschen provided analytical support for the transaction.

Senior Managing Director Ari Schwartzbard and Executive Managing Director Bill Weber arranged the acquisition financing on behalf of buyer, DFW Land, a real estate development company that specializes in the acquisition, development and sale of land in the Dallas-Fort Worth Metroplex area. Executive Managing Director Henry Stimler provided additional support in the financing.

“We expect mixed-use assets like Park Place Village, which exemplifies KBS’ superior management and service, to remain highly desirable to investors as office and retail markets experience continued recovery,” said Fohl. “The depth of interest we received for Park Place Village reflects renewed confidence in the sector and underscores Newmark’s ability to connect institutional-quality assets with capital seeking long-term value.”

“This transaction is a powerful example of Newmark’s fully integrated capital markets platform,” said Schwartzbard. “By bringing together our sales and financing capabilities, we delivered a seamless execution for both parties and helped our client secure competitive capital in a shifting lending environment.”

Situated in the heart of one of Kansas City’s most prominent submarkets, Park Place Village is a mixed-use campus completed in phases from 2007 to 2013. The property features a diverse tenant roster and lifestyle-oriented amenities, including boutique retail, high-end dining, a fitness center and ample on-site parking. Surrounding the site is a vibrant neighborhood offering additional conveniences such as structured parking, the Aloft Hotel and a range of residential options including more than 200 apartments, 30 townhomes and 27 loft units.

“Park Place Village represents a natural and strategic addition to our real estate portfolio,” said Vijay Borra, Chief Executive Officer of DFW LAND. “This asset is well positioned to deliver long-term performance and value. Over the past 90 days, we have successfully acquired several million square feet of office and retail space, reinforcing our commitment to pursuing high-quality properties that align with our long-term investment strategy. We also want to express our gratitude to our team for their dedication and hard work in making these acquisitions possible.”

According to Newmark Research, Kansas City’s office market posted 116,174 square feet of positive net absorption for the second quarter, contributing to over 1.1 million square feet of absorption over the past year. This marks the fourth straight quarter of growth, signaling that tenants are increasingly taking advantage of tenant-favorable leasing dynamics.

According to Marc DeLuca, KBS’ CEO and regional president, Eastern U.S., this transaction highlights KBS’ ability to identify improving submarkets early and reposition assets to have enduring relevance and performance. When KBS purchased the property in 2015, the company recognized the long-term potential of the sub-market and the unique opportunity to elevate the mixed-use destination.

“By proactively managing the asset and curating a retail experience that enhanced the overall office offering, KBS strategically exited the property at 100% occupancy – even while navigating post-pandemic market challenges,” says DeLuca. “The result is an office product that remained relevant and resilient, and delivered consistent cash flow at a time when many office assets have struggled.”

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.

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.