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June 21, 2022 1:30 PM

�ǿ�����app���� announces the sale of a portfolio of student housing assets totaling 303 units and 496 beds serving Michigan State University (MSU) in East Lansing, Michigan. The properties include The Gates, The Manor and The Tower, all located within a half-mile of Michigan State University. �ǿ�����app���� Vice Chairman and head of the company’s Student Housing group Ryan Lang, Director Jack Brett and Transaction Manager Ben Harkrider, in cooperation with Vice Chairman Debbie Corson, represented the seller, MJW Investments, in the transaction to buyer, Blue Vista Capital Management (“Blue Vista��).

“The differentiated product and A+ location within the MSU submarket made for a compelling portfolio,�� said Lang. “We were pleased to seamlessly execute on behalf of MJW Investments with a high-quality buyer like Blue Vista.��

The Gates is located at 500 Michigan Avenue and comprises 139 beds across 55 units. Built in 2014, the property is walkable to campus and offers spacious built-in closets and full-size appliances. The Manor is located at 128 Collingwood Drive and includes 56 beds across 14 units. It was built in 2015 and includes bi-level and tri-level floor plans. The Tower is located at 2900 Northwind Drive and comprises 301 beds in 234 units. Amenities include controlled access, resident events and activities, on-site parking, laundry facilities and a pedestrian bridge to campus.

“We were excited to partner with the �ǿ�����app���� and Blue Vista teams to close this transaction and look forward to Blue Vista’s success with these assets,�� said Mark Weinstein, Founder and President of MJW Investments.

The three properties are similar in providing affordable rates, accretive locations, and value-add upside. The combination of university and market quality, location, and synergetic management provides significant scale and efficiencies for their boutique nature while capturing upside through strategic and proven value-add initiatives.

All assets in the portfolio are within walking or biking distance to Michigan State University, downtown Lansing, and the East Lansing entertainment district between Albert and Grand River Street �� providing convenient access to university classrooms, athletic facilities, shopping and business districts.

The market surrounding MSU has experienced historically strong growth metrics. The current privatized student market has maintained 96 percent occupancy; supported by the university’s enrollment reaching nearly 50,000 students and minimal off-campus supply for a market of this size. New ownership is primed to achieve successful rental rate growth both organically and through completing a strategic value-add program.

About �ǿ�����app����
�ǿ�����app���� Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“�ǿ�����app������), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. �ǿ�����app����’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, �ǿ�����app���� provides superior service to clients across the industry spectrum. �ǿ�����app���� generated revenues of nearly $3.1 billion for the twelve months ending March 31, 2022. �ǿ�����app����’s company-owned offices, together with its business partners, operate from approximately 170 offices with 6,300 professionals around the world. To learn more, visit nmrk.com or follow .

Discussion of Forward-Looking Statements about �ǿ�����app����
Statements in this document regarding �ǿ�����app���� that 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 effects of the COVID-19 pandemic on 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, �ǿ�����app���� 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 �ǿ�����app����’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.