1814 Westchester Drive, High Point, N.C.
New York, NY (March 19, 2025) — Newmark announces the recapitalization of medical outpatient buildings totaling 115,604 square feet in Texas and North Carolina. The recapitalization will seed a strategic joint venture between Bethesda, Maryland-based healthcare REIT Global Medical REIT Inc. (“GMRE”) and an affiliate of Heitman LLC (“Heitman”), a global real estate investment management firm.
Vice Chairmen Jay Miele and John Nero, together with Vice Chairman Ben Appel and Senior Managing Director Michael Greeley of Newmark’s Healthcare Capital Markets group, in cooperation with local licensees, represented GMRE in the recapitalization and procured the joint venture partner, Heitman.
“GMRE’s experience and track record of achievements during its history attracted significant interest from the investment community, both existing investors and new entrants,” said Miele.
“This partnership with Heitman validates GMRE’s acquisition and asset management platform,” added Nero.
9509 N. Beach St., Fort Worth, Texas
“We are pleased to announce a joint venture relationship with Heitman, a global real estate investment management firm with a long and successful track record of investing in the medical office sector for more than two decades. Since 2016, GMRE has sourced and completed over 230 transactions to build a $1.5 billion portfolio with over 180 buildings, 400 tenants, and 4.7 million square feet across 34 states. We look forward to working together with Heitman to continue building a portfolio of high-quality medical outpatient facilities by leveraging our understanding of health care drivers, our relationships to source deals, and our asset management strengths,” says Alfonzo Leon, Chief Investment Officer at GMRE.
As an active investor in the medical office building sector for more than 20 years, Heitman has acquired, developed and financed more than 250 assets at over $5 billion in gross value (as of 12/31/2024).
“We are excited to partner with GMRE, one of the leading operators in the space. We believe the medical office sector is well-positioned due to the critical role it plays to deliver needs-based services. The aging US population and the trend of increased services moving to outpatient settings is expected to provide tailwinds to support demand for services at the property level as well as within the sector” said Brian Pieracci, Head of Private Equity – North America. “We believe the seed properties provide a compelling opportunity due to their current income and market dominant tenancy. The portfolio also benefits from high acuity uses and a diverse array of specialties.”
About Global Medical REIT
Global Medical REIT Inc. is a net-lease medical REIT that acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems. Additional information on GMRE can be obtained on its website at www.globalmedicalreit.com.
About Heitman
Heitman is a global real estate investment management firm with $48 billion in assets under management as of December 31, 2024. Founded in 1966 and headquartered in Chicago, Heitman has 10 offices worldwide and is an active participant in the global real estate property and capital markets. Heitman makes real estate investments through private equity, debt, and publicly-traded real estate securities.
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.
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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