FOR IMMEDIATE RELEASE
The portfolio sold to Harrison Street
New York, NY (Jan. 11, 2022) — Newmark announces that it has advised Ryan Companies US, Inc. on the sale of a national, 11-property healthcare real estate portfolio totaling approximately 500,000 square feet. The portfolio includes Class A medical office buildings, ambulatory surgery centers and outpatient behavioral health facilities which were all recently developed by Minneapolis-based Ryan Companies, a national commercial real estate solutions provider. Chicago-based Harrison Street was the buyer.
The portfolio spans six states—Florida, Illinois, Minnesota, North Carolina, North Dakota and Wisconsin—and is fully occupied, with attractive investment fundamentals, including an average age of less than five years and long-term leases remaining.
Newmark’s Healthcare Capital Markets group including Managing Director John Nero, Executive Managing Director Ben Appel, Senior Managing Directors Jay Miele and Michael Greeley and Associates Ron Ott and Adam Goss, in cooperation with local licensees, represented Ryan Companies in the sale. Vice Chairman and Head of Newmark’s International Capital Markets group Alex Foshay also advised the transaction with the team.
“We sincerely appreciate the opportunity to represent Ryan Companies on the successful divestiture of this healthcare portfolio,” said Nero. “The market’s significant interest in this opportunity is a direct reflection of Ryan Companies’ healthcare development capability, which aggregated a best-in-class portfolio aligned with leading health systems, dominant physician groups and leading specialty providers.”
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of $2.5 billion for the trailing twelve months ending September 30, 2021. Newmark’s company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world. 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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