May 12, 2021 12:00 PM
As exclusive advisor to a joint venture between Alliance Residential Company (Alliance) and a global institutional real estate manager, Newmark secured a construction loan for the development of Holden of Boca/Delray in Delray Beach, Florida. The development project is a Class A, 187-unit seniors housing project located in a highly infill location–6895 Morikami Park Road–accessible to both Boca Raton and Delray Beach.
Newmark Managing Director Sarah Anderson, Co-Heads and Vice Chairmen of the company’s Healthcare and Alternative Real Assets group Ryan Maconachy and Chad Lavender, Senior Managing Director David Fasano and Managing Director Ross Sanders represented the borrower in the financing efforts and the construction loan was provided by a bank lender.
The development, which will feature 89 independent living units, 76 assisted living units and 22 memory care units, has site plan approval and will break ground in May. The community will be operated by The Arbor Company, a highly sought-after seniors housing operator based in Atlanta.
“The seniors housing market has continued to outperform nationally despite impacts from COVID-19,” concluded Sarah. “With approximately 20,000 age- and income-qualified individuals within a 15-minute drive of the development site, Holden of Boca/Delray will benefit from the incoming wave of pent-up demand for seniors housing.”
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2020, Newmark generated revenues in excess of $1.9 billion. 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 effects of the COVID-19 pandemic on 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.