December 16, 2020, 11:00AM
Newmark announces the $149.6 million sale of a nine-property portfolio of best-in-class skilled nursing assets comprising 1,014 beds across the state of Virginia. Newmark Seniors Housing Group’s Senior Managing Directors Ross Sanders and David Fasano, and Vice Chairmen Ryan Maconachy and Chad Lavender, in cooperation with Newmark Director John Giebel represented the seller, New York City-based Annaly Capital Management, one of the largest mortgage REITs in the United States. Next Healthcare Capital acquired the portfolio.
“We were thrilled to create a new partnership between Next Healthcare Capital, a New York-based private equity firm, and the existing operator/tenant, which is widely regarded as the premier operator in the state of Virginia,” said Sanders. “We all understand the current challenges in the market and Next Healthcare Capital executed flawlessly throughout the process. They are excited about the long-term strategic investment opportunity, as well as partnering with a best-in-class operator. At the end of the day, we are excited to watch this new partnership grow.”
Newmark’s Seniors Housing Group navigated the current environment to generate a successful outcome for all parties involved in the transaction. Collectively, this team has closed over $3.5 billion in transaction volume across all acuity levels from Age-Restricted to Skilled Nursing in 2020.
About Newmark Group, Inc. (NASDAQ: NMRK)
Newmark Group, Inc. is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology and industry expertise, Newmark brings ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2019, Newmark Group, Inc. generated revenues in excess of $2.2 billion. To learn more, visit nmrk.com or follow @newmark.
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