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**Newmark Arranges $415M Refinance for Northeast Grocery-Anchored Retail Portfolio**
Newmark Group, Inc. has secured a $415 million loan on behalf of DRA Advisors, based in New York City, and KPR Centers to refinance a grocery-anchored retail portfolio spanning approximately 2.4 million rentable square feet across the Northeastern United States.
The financing was arranged by a Newmark Capital Markets team consisting of Jordan Roeschlaub, Co-President of Global Debt & Structured Finance; Vice Chairman Nick Scribani; Director John Caraviello; and Associate Dan Axelson. They worked in collaboration with Adam Doneger, Executive Vice Chairman of U.S. Capital Markets. The loan was provided by HPS Investment Partners on behalf of a separately managed account.
The portfolio includes 13 open-air shopping centers strategically located in densely populated infill markets throughout the Northeast. These assets benefit from prime trade-area positioning, high barriers to entry, and direct access to well-established consumer bases. Notably, 12 out of the 13 properties are anchored by grocery tenants, a characteristic that enhances their resilience and consistent foot traffic.
DRA Advisors and KPR Centers initially acquired these properties in 2022 as part of a larger transaction from Cedar Realty Trust, totaling $879 million.
This refinancing marks a significant move in solidifying the strategic investment and supporting future operational goals for the portfolio’s long-term performance.
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