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NHP Sells Outpatient Portfolio to TPG Angelo Gordon JV
Newmark recently arranged the $108-million sale of a National Healthcare Properties (NHP) 10-building medical office portfolio. NHP, a publicly traded healthcare REIT, sold the portfolio to a joint venture between Altera Fund and TPG Angelo Gordon.
A Newmark Healthcare Capital Markets team of senior managing director John Nero, executive managing directors Jay Miele and Ben Appel and senior managing director Michael Greeley, in conjunction with local licensees, advised NHP on the sale.
“This transaction represents an important milestone for National Healthcare Properties as we continue to enhance our operational efficiency, while strategically positioning NHP for long-term earnings growth,” said Trent Taylor, SVP at NHP.
Totaling 300,000 square feet, the portfolio comprises 10 medical outpatient buildings located in Arizona, Illinois, Massachusetts, Tennessee and Texas. The joint venture-buyer secured acquisition financing from Capital One Bank.
“The market for value-add investment in the outpatient medical sector continues to improve, with both investor and lender capital availability increasing for assets and portfolios with strong investment fundamentals and attractive upside potential,” said Nero.
- ◦Sale/Acquisition
