News Release: Newmark Arranges $1 Billion Medical Office Joint Venture Between High Growth US Platform Big Sky Medical, and an Off-Shore New-Entrant Institutional Investor, Seeded by $400+ Million US Medical Office Portfolio

FOR IMMEDIATE RELEASE

Philadelphia, PA (April. 8, 2022) — Newmark announces it has facilitated the formation of a high growth joint venture to acquire outpatient medical office buildings and surgery centers nationwide, between Dallas-based Big Sky Medical (Big Sky), and an off-shore, new-entrant, institutional investor. The new venture is seeded by a $400+ million medical office portfolio that was aggregated by the Big Sky Medical platform over the past 12 months.

Big Sky was founded in 2020 by industry veteran Jason L. Signor, who has previously spent the last 18 years of his healthcare real estate career acquiring and developing medical office buildings and senior housing facilities in 19 states across the country as the founder and CEO of a national healthcare real estate platform. “Through investments in our discretionary funds and related joint ventures, we believe the new investor will benefit from our long-tenured expertise in the healthcare sector. We value their trust, and the Big Sky team will endeavor to outperform the expectations of their investments. Newmark was able to see the strategic fit that aligns perfectly between the two parties,” said Jason L. Signor, Founder and CEO of Big Sky Medical.

Big Sky and its joint venture partner are a natural fit, with their mutual commitment to growth and Big Sky’s demonstrated track record of scaling in the US healthcare sector. The transaction adds US healthcare real estate to an already-sizeable US AUM real estate portfolio for its partner. “The pandemic has underlined a need for more outpatient services and continued demand for healthcare services. As a result, we are seeing strong investor sentiment in the medical offices sector,” added Signor. “This trend is particularly true in the US, where healthcare spending comprises around 18 percent of gross domestic product, compared to around 10 percent for most other developed countries.”

Newmark Executive Managing Director Ben Appel, Managing Director John Nero, and Senior Managing Directors Jay Miele and Michael Greeley of Newmark’s Healthcare Capital Markets Team, and Vice Chairman Alex Foshay, and Executive Managing Director Joseph Morris of Newmark’s International Capital Markets Team acted as sole financial advisor to the Joint Venture, and will secure acquisition financing for select assets for the venture.

“This portfolio transaction and joint venture marks another milestone in the growth of the medical office real estate sector, further solidifying its role as a primary asset class within both the domestic and international investor communities” said Appel “Particularly as off-shore capital historically has invested in domestic real estate through an advisor,” added Morris , “this is a testament to the Big Sky platform and its people.” The strong sponsorship offered by this joint venture will allow for the ability to secure attractive financing at highly competitive terms,” added Nero, “which will prove valuable as the venture grows its portfolio.”

The seed portfolio comprises 24 outpatient medical office buildings and ambulatory surgery centers, totaling over 1,000,000 square feet, located across seven Southern and Midwestern states in the US. The portfolio features characteristics of high occupancy, strong WALT and attractive same store growth. The portfolio is anchored by many of the nation’s most blue-chip healthcare providers, including the Cleveland Clinic, Texas A&M Health Science Center, Novant Health, Spartanburg Regional Healthcare System, Texas Health Resources and Baylor Scott & White Health.

About Big Sky Medical

Big Sky Medical Real Estate is an investment manager focused on commercial real estate across the United States with an overweight focus on the medical office sector. Big Sky was formed in 2020 to exclusively invest in healthcare and life science real estate. Big Sky leverages its deep relationships built over the past two decades as a sector specialist to position its platform as a flexible source of capital for developers, healthcare operators and investors of high quality medical real estate without competing conflicts of interest. To learn more, visit bigskymed.com

About Newmark

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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Press Contact:
Lizzy Mahan
t 303-260-4437
lizzy.mahan@nmrk.com

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