FOR IMMEDIATE RELEASE
A joint venture between Altera Fund Advisors and TPG Angelo Gordon acquired the MOB portfolio.
New York, NY (January 31, 2025) — Newmark announces the $108 million sale of a 10-building medical outpatient portfolio on behalf of New York-based National Healthcare Properties (“NHP”), a publicly registered healthcare real estate investment trust. The Newmark Healthcare Capital Markets Group advised NHP on the sale of the portfolio to a joint venture between Altera Fund Advisors and TPG Angelo Gordon.
The portfolio consists of 10 medical outpatient buildings totaling over 300,000 rentable square feet located throughout five states including Arizona, Illinois, Massachusetts, Tennessee and Texas.
Senior Managing Director John Nero, Executive Managing Directors Jay Miele and Ben Appel, and Senior Managing Director Michael Greeley of Newmark’s Healthcare Capital Markets group, in cooperation with local licensees, represented NHP in the portfolio sale. Financing for the portfolio was provided by Capital One Bank, N.A.
“We were pleased to have the opportunity to advise National Healthcare Properties on this strategic transaction,” said John Nero, Senior Managing Director at Newmark.
“The market for value-add investment in the outpatient medical sector continues to improve, with both investor and lender capital availability increasing for assets and portfolios with strong investment fundamentals and attractive upside potential,” Nero added.
“This transaction represents an important milestone for National Healthcare Properties as we continue to enhance our operational efficiency and position NHP for long-term earnings growth,” said Trent Taylor, Senior Vice President for NHP.
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. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of March 31, 2024, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,600 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
About National Healthcare Properties
National Healthcare Properties is a publicly registered real estate investment trust focused on acquiring a diversified portfolio of healthcare real estate, with an emphasis on seniors housing and outpatient medical facilities, located in the United States. Additional information about NHP can be found on its website at nhpreit.com.
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 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:
Caroline Szuch
t 973-978-1767
caroline.szuch@nmrk.com
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