Newmark Capital Markets is pleased to announce that it arranged a $19.5 million loan on behalf of CS Acquisitions Group for the acquisition of Cove West Hartford, a 200-unit apartment community in West Hartford, Connecticut. The Newmark Capital Markets team also assisted in sourcing the equity investor. The team was led by Newmark Capital Markets Vice Chairmen and Co-Heads, Debt & Structured Finance Dustin Stolly and Jordan Roeschlaub, along with Senior Managing Director Daniel Fromm.
The six-building complex is situated just 2.5 miles from Downtown Hartford and is poised to benefit from this repositioning effort that will upgrade every apartment and reimagine its 12,000 square foot clubhouse to provide sought-after amenities and unlock further revenue potential.
“It was a pleasure working with CS Acquisitions to facilitate the acquisition of Cove West Hartford,” said Stolly. “This property is ideally located near main transportation hubs, which represent part of the growing appeal of this neighborhood.”
“This property is a great addition to CS Acquisition’s portfolio. It is centrally-located, providing a significant nexus for residents to local major retail centers and universities,” said Fromm. “We look forward to seeing this asset continue to add to the transformation of Downtown Hartford.”
About Newmark Capital Markets
Newmark Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 16,000 professionals operate from approximately 430 offices in established and emerging property markets on six continents.
We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.
Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.
Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group 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. Except as required by law, Newmark Group 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 Group’s and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.