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News Release: Cushman & Wakefield’s Healthcare Capital Markets Team Closes Sale of GenesisCare Portfolio

For Immediate Release

Cushman & Wakefield’s Healthcare Capital Markets Team Closes Sale of GenesisCare (formerly 21st Century Oncology) Portfolio

Nine-Property Portfolio with Locations in Premier Medical Pockets Around U.S. Attracts $37.9M Investment

CHICAGO, November 9, 2020 – Cushman & Wakefield announced today that the firm’s Healthcare Capital Markets team has completed the sale of the GenesisCare Portfolio, with Managing Directors Gino Lollio, Scott Niedergang and Travis Ives representing ownership in the $37.9 million sale to an institutional investor.

The nine-property portfolio totals 132,553 square feet and includes the following triple-net or absolutely triple-net leased medical office buildings:
• 104 Medical Park Dr., Andalusia, Alabama
• 28850 Trails Edge Blvd., Bonita Springs, Florida
• 210 New Hope Rd., Princeton, West Virginia
• 310 Hartnell Ave., Redding, California
• 179 N. Buncombe School Rd., Weaverville, North Carolina
• 450 Toll Gate Rd., Warwick, Rhode Island
• 55 Sayles St., Southbridge, Massachusetts
• 2160 Colonial Blvd., Fort Myers, Florida
• 445 Biltmore Ave., Ashville, North Carolina

All locations are anchored by GenesisCare (formerly 21st Century Oncology). Earlier this year, 21st Century Oncology was acquired by KKR-backed, Australia-based GenesisCare, which specializes in the delivery of oncology treatment and has one of the largest networks of integrated oncology care in the world, with treatment centers and clinics across the U.S., Australia, the U.K. and Spain.

Six of the facilities hold Certificates of Need or Approval for Restricted Use, while seven locations provide radiation therapy services.

“The infrastructural requirements of these facilities, their on-or-nearby hospital campus locations, and the radiology oncology services they provide combined with GenesisCare’s recent acquisition drew intense investor interest for the portfolio,” said Lollio. “This offering is also an example of the ever-increasing interest medical-office properties currently generate as a preferred investment class for both private and institutional investors.”

Additionally, the Andalusia, Princeton, Warwick, Asheville, and Southbridge facilities are located on-campus or adjacent to hospitals. The Bonita Springs, Princeton, Redding, Weaverville, Warwick, Fort Myers, Asheville locations are single-tenant, while two-tenant facilities are located in Andalusia and Southbridge.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

Bailey Webb

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