Sourcing multiple lenders, filing appropriate documents, and guiding owners throughout the closing process are the primary jobs of a broker. They act as intermediaries between owners and lenders. Newmark's Capital Markets business is the traditional brokerage business. Newmark generates fee revenue based on the duration and value of the lease. Newmark is a commercial real estate broker offering services, including leasing, where Newmark acts on behalf of CRE (Commercial Real Estate) owners, sourcing tenants for properties, and on behalf of clients looking for space to lease. While the commercial Real Estate market is in flux as work from home and higher interest rates alter the market, NMRK has several growth engines that the market appears to be overlooking.
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Newmark ( NASDAQ: NASDAQ: NMRK) has been an impressive business over the past decade, increasing revenues over 13x since 2011, a CAGR of 29%, yet this impressive growth and future targets have this stock trading at single-digit earnings.
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