Newmark Knight Frank has represented Providence St. Joseph Health in the $59 million disposition of a 10-property portfolio. The deal is part of a two-phase transaction, with the second-phase assets set to become available for sale later this quarter. Executive Managing Directors Sean Fulp and Garth Hogan, together with Director Mark Schuessler, led transaction efforts.
The buyers were a group of investors ranging from private equity funds to physicians and multifamily developers. The properties sold in the first phase are located in the states of California, Washington, Oregon and Montana, and encompass nearly 350,000 square feet of medical, office and industrial space. The second-phase deal will include medical, office and land assets located in Alaska, Washington, Oregon, Montana and California.
This is the second time NKF and PSJH partnered in a deal. In mid-2019, NKF represented PSJH in the sale of a selection of assets located across Alaska, Washington, Oregon, Montana and California.
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