Newmark Arranges Financing for Related Ross' Acquisition of Boca Raton Innovation Campus
Newmark Group (Nasdaq: NMRK) has arranged financing on behalf of Related Ross to acquire the 1.7-million-square-foot Boca Raton Innovation Campus in Florida, a former IBM campus spanning over 124 acres. The property is known as the birthplace of IBM's first personal computer and remains one of Boca Raton’s largest employment centers. Newmark executives Jordan Roeschlaub, Nick Scribani, John Caraviello, and Josh King secured financing with Ares for this acquisition. Related Ross plans to continue operating BRiC as an office and technology campus while enhancing its offerings through a mix of amenities, retail spaces, and restaurants. The property is strategically located near Florida Atlantic University, Boca Raton Airport, and major I-95 interchanges, offering strong connectivity. This marks Related Ross’s entry into the Boca Raton market and expands its presence in Palm Beach County. Newmark highlighted BRiC as a significant development opportunity with substantial scale and legacy value. The acquisition aligns with Newmark's role as a leading commercial real estate advisor to institutional investors.
Topics: acquisition office_campus_redevelopment urban_development