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News Release: CLOSED | $1Bn MOB JV & Portfolio Recap & $157M Debt Financing (Cornerstone)

HEALTHCARE CAPITAL MARKETS

NEWMARK

CLOSING ANNOUNCEMENT

$1IBN Joint Venture

$215M Portfolio Recap

$157M Loan Placement

MOB Portfolio Recapitalization and Programmatic Joint Venture on Behalf of the Cornerstone Companies

Nationwide

SEPTEMBER 2021

The Newmark Healthcare Capital Markets Team arranged the sale Of a 25 building MOB portfolio located throughout the country. The $215 million portfolio consists predominantly Of purpose-built medical Office buildings. leased to credit health systems and dominant physicians networks for an average Of 10+ years. The joint venture Will seek to invest SI billion in healthcare acquisition and development opportunities on a programmatic basis.

Newmark advised Cornerstone and KKR on establishing the Joint Venture and represented Cornerstone on the portfolio recapitalization transaction. In addition. the team worked in partnership With the firm’s Debt and Structured Finance practice to procure acquisition financing for the investor.

FOR MORE INFORMATION

Jay Miele
Senior Managing Director
(732) 778.3895
jay.miele@nmrk.com

John Nero
Managing Director
(610) 308.8192
john.nero@nmrk.com

Ben Appel
Executive Managing Director
(215) 872.9903
ben.appel@nmrk.com

Michael Greeley
Senior Managing Director
(617) 223.1623
michael.greeley@nmrk.com

Ron Ott
Associate
(570) 417.8140
ron.ott@nmrk.com

Alex Foshay
Vice Chairman
t 212-372-2253
afoshav@nmrk.com

Newmark Healthcare Capital Markets

nmrk.com

 

 

 

 

Healthcare Debt Placement:
Healthcare Analytics Team:

John Nero
Managing Director
(610) 308.8192
john.nero@nmrk.com

Ron Ott
Associate
(570) 417.8140
ron.ott@nmrk.com

Adam Goss
Associate
(713) 444.1024
adam.goss@nmrk.com

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