Newmark Arranges Refi on 50-Asset SomeraRoad Portfolio
Newmark arranged a $525-million loan on behalf of SomeraRoad for the refinancing of a 50-asset, 6.8-million-square-foot, 100% net-leased industrial portfolio, located in markets throughout the U.S.
The Newmark team, leveraging local licensees, was led by Jordan Roeschlaub and Dustin Stolly, with Chris Kramer, Nick Scribani and Jake Neeb. The loan was provided by Bank of Montreal.
“It is remarkable what the SomeraRoad team has been able to accomplish, aggregating and scaling a strong portfolio and building an impressive net-lease platform in the process,” said Roeschlaub.
Stolly added, “SomeraRoad has been highly active in acquiring and expanding its industrial net-lease portfolio. The diversity and mission-criticality of the properties, coupled with the continued favorability of the industrial debt market, showed through in this execution.”
The portfolio comprises 50 single-tenant assets, spanning 27 states and 40 unique markets – net-leased to a diverse array of 35 companies using their space for a mission-critical functionality.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).