PHILADELPHIA, Aug. 8, 2024
/PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK)
("Newmark" or "the Company"), a leading commercial real
estate advisor and service provider to large institutional
investors, global corporations, and other owners and occupiers,
announces it has arranged a strategic joint venture (the "Venture")
between Catalyst Healthcare Real Estate ("Catalyst"), a leading
U.S. healthcare real estate development and investment firm, and
Heitman, a $50 billion real estate
investment management firm. Newmark also helped secure $300 million for such Venture to fund the
development pipeline of purpose-built healthcare properties,
including medical outpatient buildings, orthopedic centers of
excellence and inpatient rehabilitation facilities.
The transaction was led by Newmark's Healthcare Capital Markets
group Executive Managing Director Ben
Appel, Senior Managing Director John
Nero, Executive Managing Director Jay Miele, Senior Managing Director Michael Greeley and Associate Director
Ron Ott.
The initial phase includes funding seven ground-up or in-process
developments totaling nearly 500,000 square feet, spanning five
states and encompassing blue chip tenants such as Ochsner Health,
Andrews Medicine, University of Mississippi
Medical Center and PAM Health.
"Catalyst works in partnership with its clients to design
comprehensive real estate solutions that best support their
mission, vision and values of providing better access to care,
higher quality outcomes and lasting relationships," said
Chad Henderson, Founder/CEO and
Managing Partner of Catalyst Healthcare Real Estate.
"The joint venture with Catalyst is another significant
milestone in Heitman's 20+ year history of investing in the medical
office sector," said Brian Pieracci,
Heitman Head of Private Equity –
North America. "Medical office
offers counter-cyclical qualities as a needs-based asset class,
benefitting from secular demand drivers, including aging
populations and migration of medical services out of hospitals and
into outpatient settings. The properties in the Catalyst portfolio
are attractive investments due to the high acuity and strategic
uses in the buildings for its major health system tenants."
"Catalyst prides itself on its people, its promise and the
quality of its work," added Appel. "The firm has been recognized
nationally for both its people, including CEO Chad Henderson, and for the quality of its
developments."
"Supporting the growth of many of the nation's leading
providers, the Venture further solidifies Catalyst's business plan
to execute its ambulatory strategy," added Nero.
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 June 30,
2024, Newmark's company-owned offices, together
with its business partners, operate from approximately 170 offices
with 7,800 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.
About Catalyst Healthcare Real Estate
Catalyst
is a national healthcare real estate development and investment
firm. Our platform of integrated real estate deliverables is
specifically designed for the ever-evolving landscape of healthcare
real estate. Our team seeks to positively impact healthcare with
strategic investment in development, acquisition, and strategy
services. For more information, please
visit catalysthre.com.
About Heitman
Heitman is a global real estate investment management firm with
$50 billion in assets under
management as of March 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.
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SOURCE Newmark Group, Inc.
