Newmark Arranges $415M Refinance for 13 Grocery‑Anchored Shopping Centers in U.S. Northeast

Newmark Arranges $415 Million Refinance for Grocery‑Anchored Portfolio

Newmark Group is arranging a $415 million loan to refinance a primarily grocery‑anchored retail portfolio totaling about 2.4 million rentable square feet across the U.S. Northeast. The firm secures the financing from HPS Investment Partners on behalf of a separate managed account, acting as arranger and advisor for borrowers DRA Advisors and KPR Centers. The Newmark team leading the transaction includes Co‑President, Global Debt & Structured Finance Jordan Roeschlaub, Vice Chairman Nick Scribani, Director John Caraviello and Associate Dan Axelson, working with Executive Vice Chairman of U.S. Capital Markets Adam Doneger.

The portfolio comprises 13 open‑air shopping centers situated in densely populated infill markets, with 12 of the assets anchored by grocers. Newmark highlights the assets’ prime trade‑area positioning, significant barriers to entry and direct access to established consumer bases, factors that support defensive cash flows and strong occupancy metrics. The firm says the financing facilitates capital placement and execution while enabling the owners to pursue active asset management and potential repositioning to drive income stability and upside.

Market participants view the deal as evidence of ongoing investor appetite for grocery‑anchored retail, which is perceived as resilient amid broader retail adjustments. DRA Advisors brings scale to the transaction, having acquired roughly $42 billion of real estate since 1986 and reporting $11.6 billion in gross assets under management as of Sept. 30, 2025. KPR Centers contributes regional operating experience across 19 states, emphasizing leasing, repositioning and redevelopment strategies that Newmark says underwrite the financing case for these neighborhood‑oriented retail properties.

Epstein File Fallout Draws Political Pressure on Commerce Secretary

Separately, Republican Representative Thomas Massie calls for the resignation of U.S. Commerce Secretary Howard Lutnick after The New York Times reports Department of Justice files show more extensive ties between Lutnick and convicted sex offender Jeffrey Epstein than previously disclosed. Massie, who helps lead the effort that compelled the files’ release, says Lutnick “should just resign,” while the Commerce Department describes his interactions with Epstein as “very limited.”

The political scrutiny has potential implications for Newmark’s operating environment, as heightened attention on senior business and government figures can prompt reputational and regulatory headwinds for firms in real estate and financial services. For now, Newmark proceeds with the refinancing, underscoring investor demand for defensive retail assets even as Washington navigates the fallout.