Newmark Arranges $323 Million Sale and $233 Million Financing of National Medical Outpatient Portfolio

November 4, 2025 9:00 AM

Newmark announces the Company has arranged the $323 million sale and $233 million acquisition financing of Project Lotus—a 750,000-square-foot medical outpatient portfolio located across 11 U.S. markets. Newmark Co-Heads and Vice Chairmen of U.S. Healthcare Capital Markets Ben Appel, Jay Miele and Justin Shepherd, along with Senior Managing Director Michael Greeley, represented the seller, an affiliate of Montecito Medical, and procured the buyer, a Canadian Infrastructure Fund.

Newmark Head of U.S. Healthcare Debt John Nero and Director Ron Ott arranged the new acquisition financing with BMO Healthcare Real Estate Finance.

The portfolio comprises 18 newer vintage outpatient medical office buildings and ambulatory surgery centers, each purpose-built for its anchor or sole tenant. The properties are 100% leased to a mix of investment-grade health systems and leading regional physician networks across key specialties, including orthopedics, cardiovascular care, women’s health, oncology and multi-specialty practices.

“Offering a rare combination of newer vintage assets, high-acuity medical uses and purpose-built design—underpinned by long-term leases and durable rent growth—the portfolio drew significant interest from a broad base of institutional investors, public and private, domestic and offshore,” said Appel.

“Lender sentiment and available loan terms have improved materially, notably credit spread, LTV, and lack of syndication requirements,” added Nero “This is a trend we’ve see evident particularly in larger portfolio financings, including this financing.”

Strategically positioned across southern and coastal markets—predominantly within Certificate of Need states—the properties span Texas, North Carolina, Florida, Nevada, Virginia, Tennessee, Louisiana, Mississippi, Arkansas, New York and Ohio.

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 June 30, 2025, Newmark generated revenues of over $2.9 billion. As of June 30, 2025, Newmark and its business partners together operated from 165 offices with over 8,400 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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