B
oston - Newmark has brokered the $108 million sale of National Healthcare Properties' (NHP) 10-building medical office portfolio to a joint venture between Altera Fund and TPG Angelo Gordon. The deal marks an important milestone for NHP, enabling it to enhance operational efficiency while positioning itself for long-term earnings growth.
The 300,000-square-foot portfolio comprises outpatient buildings in Arizona, Illinois, Massachusetts, Tennessee, and Texas. Capital One Bank provided acquisition financing for the joint venture-buyer. Newmark's Healthcare Capital Markets team, led by John Nero, Jay Miele, Ben Appel, and Michael Greeley, advised NHP on the sale.
"This transaction demonstrates the improving market conditions for value-add investments in the outpatient medical sector," said Nero. "Increased investor and lender capital availability is driving demand for assets with strong fundamentals and growth potential."
