FOR IMMEDIATE RELEASE
Newmark’s Healthcare Capital Markets Group advised Aspect Health and procured institutional equity partner
Boston, MA (Aug. 10, 2021) — 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.
“The team clearly understood the needs and future vision for Aspect Health and Newmark was able to match us with a best-in-class strategic partner,” said Christopher Smith, CEO of Aspect Health.
“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 275,000 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.
About Aspect Health, LLC
Aspect Health is headquartered in Westport, Conn. and offers a vertically integrated slate of full-service real estate solutions including advisory services, site selection, entitlement, design, development and construction, acquisition, property, and asset management. The company is led by a management team with more than 225 years of combined experience that has owned and managed more than eight million square feet of healthcare, hotel, industrial, residential, retail and office real estate. Aspect Health has significant market share in its core geographic region of Connecticut with a future strategic focus on expanding throughout the surrounding Northeast region between New York and Boston. For more information visit https://www.aspecthealthre.com.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), 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, we bring 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 2020, Newmark generated revenues in excess of $1.9 billion. To learn more, visit nmrk.com or follow @newmark.
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. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. 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 Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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