News Release: Newmark Arranges $97.5 Million Sale of Willow Oaks Medical Campus in Fairfax, VA

Co-Heads of U.S. Medical Office Capital Markets Ben Appel,  Jay Miele and Justin Shepherd, Head of Healthcare Debt John Nero, Senior Managing Director Michael Greeley and Associate Directors Ron Ott and represented the seller. D.C-area capital markets Executive Managing Directors Jud Ryan and James Cassidy supported the transaction.

“The competitive process demonstrated strong investor demand for Willow Oaks, with multiple third-party bids,” said Appel. “Initially we only marketed one of the two twin MOBs, but demand for Willow Oaks resulted in unsolicited bids for both assets. The Properties are located immediately adjacent to Inova’s flagship 923-bed hospital campus; Inova ultimately emerged as the buyer, underscoring its strategic importance within the health system’s broader footprint.”

The MOB’s are anchored by Inova, and home to combination of hospital and 3rd party tenancy, creating a healthy ecosystem of services for the community. Each property spans approximately 188,000 square feet and has benefited from multi-million-dollar capital investment initiatives into tenant spaces, common areas and amenities in recent years.

Located in the Merrifield submarket, the properties are adjacent to Inova’s headquarters and Inova Fairfax Hospital and benefit from connectivity to the Capital Beltway and Dunn Loring-Merrifield Metro station. The portfolio is also proximate to Tysons, Washington, D.C. and the Mosaic District, a major mixed-use destination offering retail, dining and entertainment.