August 12, 2021 9:00 AM
Newmark announces that it has arranged the recapitalization of a medical office portfolio comprising six assets developed and operated by Aspect Health–as well as its development pipeline–and arranged a strategic joint venture for the development of healthcare facilities from New England through the Mid-Atlantic. Newmark Executive Managing Director Ben Appel, Senior Managing Directors Michael Greeley and Jay Miele and Managing Director John Nero of the firm’s National Healthcare Capital Markets Group advised Aspect Health and procured the institutional equity partner.
“We’ve had the pleasure of advising Aspect Health for many years,” said Appel. “We are thrilled to see that work culminate in a programmatic joint venture between two of the leaders in healthcare real estate.”
Aspect Health’s portfolio totals approximately 200,000 square feet of recently constructed and renovated Class A medical office, in addition to its pipeline of medical office buildings under construction.
“This offering presented an attractive opportunity to form a strategic partnership with a highly experienced developer and operator of healthcare real estate with a 15-year track record of success,” said Greeley. “The seed assets represent a best-in-class collection of orthopedic centers of excellence, ambulatory surgery centers and outpatient medical office buildings across the metropolitan New York market.”
The portfolio further benefits from a curated clinical space program comprising tenants across some of the medical sector’s most desirable specialties, including surgery, orthopedics, sports medicine, pain management, radiology, dialysis, ophthalmology and primary care.
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. Our comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, growing startups to leading companies. In 2020, Newmark generated revenues in excess of $1.9 billion. Newmark, together with London-based partner Knight Frank and independently owned licensees, operates globally from approximately 490 offices with 19,300 professionals. To learn more, visit nmrk.com or follow @newmark.
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