National Healthcare Properties Sells 10-Building Portfolio Located In Five States For $108 Million

Newmark has announced the $108 million sale of a 10-building medical office portfolio by National Healthcare Properties (NHP).

NHP, a publicly traded healthcare real estate investment trust, sold the portfolio to a joint venture between Altera Fund and TPG Angelo Gordon. The sale was facilitated by Newmark’s Healthcare Capital Markets team, including Senior Managing Director John Nero, Executive Managing Directors Jay Miele and Ben Appel, and Senior Managing Director Michael Greeley, who worked alongside local licensees to guide NHP through the transaction.

“This sale is a significant milestone for National Healthcare Properties as we enhance our operational efficiency and strategically position NHP for sustained earnings growth in the future,” said Trent Taylor, Senior Vice President at NHP.

The portfolio, totaling 300,000 square feet, consists of ten outpatient medical buildings located across Arizona, Illinois, Massachusetts, Tennessee, and Texas. The joint venture secured acquisition financing from Capital One Bank, N.A.

“We were pleased to assist National Healthcare Properties with this strategic transaction,” said Nero. “The market for value-add investment in outpatient medical properties continues to improve, with growing capital availability from both investors and lenders for assets and portfolios that offer strong investment fundamentals and attractive upside potential.”

Source: AZBigMedia