HealthCore Pays $130M for Six-Building NorthBay Health MOB Portfolio

Newmark arranged the $130-million sale of the 222,073-square-foot NorthBay Health Medical Outpatient Building Collection, compromised of six fully leased healthcare assets across Fairfield and Vacaville. Co-heads of U.S. Medical Office Capital Markets Ben Appel, Justin Shepherd and Jay Miele, head of healthcare debt John Nero, senior managing director Michael Greeley and associate director Ron Ott advised the seller. The buyer was HealthCore Foundation.

“The NorthBay Health Collection represented a rare opportunity to acquire a portfolio of mission-critical healthcare real estate fully occupied by one of Northern California’s leading health systems,” said Appel. “The combination of investment-grade tenancy, long-term lease duration and assets that are deeply integrated within NorthBay Health’s operations made the portfolio highly attractive.”

The portfolio is fully leased to NorthBay Health, the dominant health system in the community. The portfolio comprises five medical outpatient facilities and NorthBay Health’s office headquarters, located on and adjacent to major healthcare campuses.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 19-plus years’ experience covering the commercial real estate industry and 35-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 11-15 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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