FOR IMMEDIATE RELEASE
Newmark’s National Healthcare Capital Markets Group Advised The Atkins Companies and Procured two Public REIT Purchasers
Philadelphia, PA (September 10, 2021) — Newmark announces that it has arranged the sale of a 250,000 square foot medical office portfolio comprising six assets developed, acquired and managed by The Atkins Companies, throughout Northeast & Mid-Atlantic US. Newmark Executive Managing Director Ben Appel, Senior Managing Directors Jay Miele and Michael Greeley, Managing Director John Nero, and Associates Ron Ott and Adam Goss of the firm’s National Healthcare Capital Markets Group advised Atkins and procured the pure-play medical office REIT purchaser.
The Atkins Companies has a more than 40-year track record of owning and operating first class medical office buildings throughout the country. The portfolio totals more than 250,000 square feet of recently constructed and renovated Class A medical office buildings, leased to a premier line-up of leading hospital and physician networks, including OSU Health (Moody’s Aa1), Ohio State University (Moody’s Aa1), Hartford Healthcare (Moody’s A2), OneOncology, Allegheny Health Network (Fitch A), and Radnet (Moody’s B2).
“The portfolio is a core collection of outpatient MOBs, with 7.5 years of WALT, located in high barrier-to-entry northeastern United States markets. Sitting at 100% occupancy, these properties have consistently outperformed,” said Appel. “The sale of these assets provides refreshed capital to Atkins Companies and its investors which supports the firm in the continued expansion of its portfolio in the sector,” added Miele.
Bob Atkins, Principal at Atkins Companies added, “While these properties differ in tenant makeup and location, each one speaks to our ability to successfully drive value from real estate development and investment by creating and managing spaces geared to the needs of today’s healthcare practitioners. We look forward to deploying the capital from this sale to purchase additional assets in the months to come and build upon our decades of success in this important asset class.”
The portfolio further benefits from a curated clinical space program comprising tenants across some of the medical sector’s most desirable specialties, including orthopedics, sports medicine, pain management, radiology, oncology, and primary care.
About Atkins Companies
Atkins Companies is one of the Northeast’s premier, multigenerational commercial real estate developers, investors, and property managers. As a pioneer in the medical office space, Atkins Companies is a leading developer, investor, and property manager for regional healthcare systems and physician practices, providing state-of-the-art space solutions to meet the growing demand for well-located, Class-A medical office buildings. Driven by a deep focus on creating and maintaining strong relationships, their hands-on and solutions-oriented approach to development, investment, and management breeds successful projects while enhancing the businesses and communities that they serve. For more information about Atkins Companies, visit AtkinsCompanies.com or contact them in their West Orange office at 973-325-7900.
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.
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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.
To stay connected with Atkins Companies and for updates on the latest transactions and news, follow Atkins on LinkedIn (www.linkedin.com/company/atkins-companies).
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