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Newmark Secures Equity for Tailwind Group, Acquires Student Housing Near KU
Newmark has arranged a structured equity facility to finance programmatic student housing acquisitions throughout the U.S. Newmark secured the continuing equity source on behalf of the sponsor, Tailwind Group, a Minnesota-based real estate development, management and leasing firm.
Newmark Vice Chairman and Head of the company’s Student Housing group Ryan Lang, Managing Director Jack Brett and Director Ben Harkrider led the equity placement.“Tailwind is one of our most valued clients, and their continued success and growth trajectory has been incredible to see,” said Lang. “We are grateful for the opportunity to advise on their strategic growth initiatives moving forward.”
Tailwind Group recently leveraged the facility to complete its first acquisition, The Reserve on West 31st, a 192-unit student housing community just 1.5 miles from The University of Kansas in Lawrence, Kansas. “We see great upside in this opportunity upon execution of our capital improvement plan combined with the strong fundamentals in the Lawrence market,” said Brandon Smith, Tailwind Group’s Vice President of Operations & Development.
