PARIS, Nov. 13,
2024 /PRNewswire/ -- Newmark announces the firm has
advised Unibail-Rodamco-Westfield (URW) in the €172.5 million sale
of the 140,846 square-foot (13,085 square-meter) office portion of
Les Ateliers Gaîté, a mixed-use property in the prominent
Montparnasse district of Paris.
Newmark Deputy Chief Business
Officer Emmanuel Frénot arranged the transaction between URW
and buyers Swiss Life Asset Managers and Norges Bank Investment
Management.
"Advising URW on the sale of this asset, with its exceptional
location and exemplary environmental approach, just a few months
after the opening of our Paris
office makes us particularly proud and highlights our ongoing
momentum," said Frénot. "This transaction confirms the recovery
signals we have been sensing since the end of the second quarter of
2024 and suggests an increase in activity in the office segment for
2025."
Les Ateliers Gaîté, delivered in 2022, includes around 100
retail shops, restaurants and services, as well as a hotel,
offices, housing and a public library. The office space is leased
long-term to coworking operator Wojo, establishing its Parisian
flagship.
Newmark opened its flagship Paris office in March, hiring several of the
city's most respected brokers, including Francois Blin and Frénot
to lead the team, Antoine
Salmon and Vianney d'Ersu as Co-Heads of Retail
Leasing, Managing Directors Jérôme De Laboulaye,
Nicolas Coutant and Alexandre Gotti as President, France. The office is now home to nearly 40
leading French commercial real estate professionals, including a
market-leading research team.
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 twelve months ended September 30, 2024, Newmark generated revenues of
over $2.6 billion. As of that same
date, Newmark's company-owned offices, together with its business
partners, operated from nearly 170 offices with more than 7,800
professionals around the world. To learn more,
visit nmrk.com or follow @newmark.
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Newmark
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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 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.
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