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Newmark Arranges $150M Sale of Skilled Nursing Portfolio in Virginia

Newmark has arranged the $149.6 million sale of a nine-property skilled nursing portfolio consisting of 1,014 beds in Virginia.

Ross Sanders, David Fasano, Ryan Maconachy and Chad Lavender and John Giebel of Newmark represented the seller in the transaction, New York City-based Annaly Capital Management, one of the largest mortgage REITs in the United States. Next Healthcare Capital acquired the portfolio.

“We were thrilled to create a new partnership between Next Healthcare Capital, a New York-based private equity firm, and the existing operator/tenant, which is widely regarded as the premier operator in the state of Virginia,” said Sanders. “We all understand the current challenges in the market and Next Healthcare Capital executed flawlessly throughout the process.  They are excited about the long-term strategic investment opportunity, as well as partnering with a best-in-class operator. At the end of the day, we are excited to watch this new partnership grow.”

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.