Newmark : Advises PrimeMed Realty on Sale of Four-Property Medical Office Portfolio in Florida

January 3, 2022 9:00 AM

Newmark announces it has advised on the sale of a four-property, medical office portfolio on behalf of Miami-based PrimeMed Realty, LLC ("PrimeMed"). The portfolio totals 96,395 rentable square feet of medical office and ambulatory surgery center space located throughout the Greater Orlando and Miami areas of Florida. The properties were leased to a diverse roster of health system, physician group and specialty care provider tenants. Two of the properties are strategically located adjacent to leading health system acute-care hospital campuses.

Newmark's Healthcare Capital Markets group, including Managing Director John Nero, Senior Managing Directors Michael Greeley and Jay Miele, Executive Managing Director Ben Appel, and Associates Ron Ott and Adam Goss, in cooperation with Vice Chairman Todd Perman, led the portfolio sale execution on behalf of the seller, PrimeMed. In addition, Newmark's Boston-based Debt and Structured Finance group procured acquisition financing for the buyer, a joint venture between Boston-based AEW Capital Management and Cypress West Partners.

"We commend PrimeMed on the aggregation of a high-quality portfolio, which generated significant investor attention and interest given its alignment with leading healthcare providers and significant concentration within high-growth and attractive Florida markets," said Nero.

"We were pleased with the market's response to the portfolio investment opportunity and are excited to realize a successful transaction for PrimeMed and our investors through Newmark's execution of a competitive process, led by John Nero," concluded Chris Montello, Co-Founder of PrimeMed Realty, LLC.

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.