Newmark Capital Markets has successfully completed the sale of 67 South Bedford Street in Burlington, Massachusetts to one of Anchor Health Properties’ existing institutional joint ventures. On behalf of The Davis Companies, Newmark Capital Markets Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen, Managing Director Michael Greeley, Director James Tribble and Associate Director Samantha Hallowell of the Boston office, which is led by Co-Head of U.S. Capital Markets Robert Griffin, oversaw the transaction of the Class A medical/office building.
67 South Bedford Street is anchored by Lahey Hospital & Medical Center, which operates a 317-bed flagship hospital directly adjacent to the subject property. The asset recently underwent extensive common area and exterior upgrades in order to enhance its tenant experience and improve its identity along Interstate 95/Route 128.
“67 South Bedford Street is a mission-critical asset for Lahey,” said Greeley. “Its proximity to the organization’s flagship hospital enables it to benefit from the ‘250-yard rule,’ by which it is considered an ‘on-campus’ facility.”
Featuring substantial frontage along Interstate 95/Route 128, 67 South Bedford Street boasts a high-profile location in a vibrant market with swift access to Downtown Boston. The asset also enjoys exceptional positioning in the heart of Burlington’s expansive amenity base.
“Burlington is a premier ‘urbanized’ market that has undergone a surge of capital investment in recent years,” said Pullen. “67 South Bedford Street therefore offers tenants a vibrant ‘live-work-play’ environment combined with a first-class physical plant.”
About The Davis Companies
The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested more than $4 billion in gross asset value through real estate equity, debt and fixed-income securities. A combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 12 million square feet of office, multifamily, retail, hospitality, light industrial, healthcare and bioscience properties across the Eastern United States. For further information, visit www.thedaviscompanies.com.
About Anchor Health Properties
Anchor Health Properties is a national full-service real estate development, management, leasing and investment platform serving investors and health systems across the United States. Anchor manages and leases nearly four million square feet of medical office space, inclusive of numerous projects under construction. Anchor maintains 10 offices nationally (including new offices in Charlotte, metro New York City and Denver, resulting from recent acquisitions) with more than 50 professionals. Over the past five years, Anchor principals have acquired and/or developed over $3 billion of medical real estate across the country. For more information, please visit www.anchorhealthproperties.com.
About Newmark Capital Markets
Newmark Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.
Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark 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. Except as required by law, Newmark 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 Newmark’s and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.