NEW
YORK, Aug. 14, 2023 /PRNewswire/ -- Newmark
Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading
commercial real estate adviser and service provider to large
institutional investors, global corporations, and other owners and
occupiers announces the firm has recently raised $500 million from an institutional investor on
behalf of Envision Cold (Envision) to capitalize a new cold storage
operating and development company. The investment allows Envision
to acquire and develop over $1.5
billion of cold storage assets. Newmark advised on the
capital raise and formation of the company. The team was led by
Newmark's Co-Presidents of Debt & Structured
Finance, Jordan
Roeschlaub and Dustin
Stolly.
With the funding sourced by Newmark, Envision has closed on
acquiring cold storage operations and assets in Oakland, CA, San
Francisco, CA, Laredo, TX
and Vancouver, BC. Envision plans
to continue acquiring and developing a network of facilities across
North America, focusing on markets
that are underserved by cold storage from both a physical
infrastructure and customer service perspective. Providing its
users with various services, including traditional cold storage,
import/export services, transportation and blast freezing, Envision
has engaged a preeminent real estate development team to oversee
all ground-up development projects, which will be essential to the
company's growth.
"We are excited to announce the launch of Envision and our plans
to build one of the preeminent cold storage companies in
North America," said Austin Solem, Chief Executive Officer of
Envision. "The magnitude of this investment was driven by the
strength of not only our team's commitment to innovation and
service but also to the opportunity within the market itself. The
cold storage industry is stronger than ever, and it needs more
national providers to satisfy the increasing demand."
Led by an Executive Leadership team with a deep history in the
cold storage industry, having previously worked together at the
world's second-largest cold storage owner/operator, Americold,
Envision continues to build out a best-in-class organization to
oversee the expansion and operation of the platform.
"We are proud to have represented Envision in the capitalization
by a well-respected institutional investor. Led by an expert team,
we expect Envision to have a great runway to create scale in the
cold storage sector," commented Roeschlaub.
Newmark's effort on behalf of Envision is part of the Company's
continued push into complex joint venture financing, focusing on
raising capital for platform and programmatic joint ventures across
all real estate sectors.
About Envision Cold
Founded by a leadership team with
over 50 years of collective experience with the biggest players in
the cold storage industry, Envision Cold is a forward-thinking cold
storage developer and operator. Envision combines scale and
expertise with an entrepreneurial mindset and dedication to
building bespoke solutions—and delivering them quickly. Through
partnerships with a best-in-class developer and an elite investor,
the firm designs, builds and operates custom temperature-controlled
facilities and logistics systems based on customers' specific
visions and goals. Envision's value-added services cover the
broader cold chain, from initial processing to final mile delivery,
and everything in between, providing innovative solutions to
customers to bring safeguarded food to the world. Learn more
https://www.envisioncold.com/.
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 year ending December
31, 2022, Newmark generated revenues of approximately
$2.7 billion. As of June 30, 2023, Newmark's company-owned offices,
together with its business partners, operate from approximately 170
offices with over 7,400 professionals around the world. 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/newmark-secures-500m-investment-on-behalf-of-cold-storage-company-envision-301900059.html
SOURCE Newmark Group, Inc.