Newmark Group Helps Port 32 Refinance

Newmark Group, Inc., a leading commercial real estate advisor and service provider to large institutional investors, global corporations and other owners and occupiers, announced that the firm has arranged a $400 million credit facility for PORT 32 Marinas to refinance its existing portfolio of coastal marinas, and to fund the future acquisition of marinas.

The financing from Austria-based bank, BAWAG Group was arranged by Newmark’s Co-Head of Global Debt & Structured Finance Jordan Roeschlaub, and Vice Chairman Chris Kramer, in collaboration with Co-Head of Global Debt & Structured Finance Jonathan Firestone.

Based in Charleston, South Carolina, PORT 32 is a leading owner, operator and developer of dry and wet slip coastal marina properties. PORT 32 provides expertise in the development and management of marina assets. PORT 32 owns and operates a growing collection of Class A marina assets in premier markets.