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Cleveland-based Woodside Health, LLC and an affiliate of Chicago-based Heitman LLC have entered a joint venture on 10 medical office properties in four states

Woodside Health Enters JV with Heitman on Medical Office Properties

Newmark arranged the recapitalization of a 10-property, 423,000-square-foot medical office portfolio spanning four states. Terms weren’t disclosed. The recapitalization will seed a joint venture between Cleveland-based medical office building acquisition and management firm Woodside Health, LLC and an affiliate of Chicago-based Heitman LLC, a global real estate investment management firm.  

The relationship is Woodside’s first joint venture with an institutional partner and will enable the company to significantly expand its portfolio of healthcare real estate, a sector that outperformed throughout the pandemic. 

Senior managing director Jay Miele, executive managing director Ben Appel and senior managing directors John Nero and Michael Greeley of Newmark’s Healthcare Capital Markets group, in cooperation with local licensees, represented Woodside in the recapitalization and procured the JV partner. 

The seed portfolio is occupied by health systems, physician networks and independent doctors and located across Texas, Arizona, Georgia and Florida.

Pictured: A recent Woodside Health acquisition in Colleyville, TX.  

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Newmark's MieleWoodside Health

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-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 15-20 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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