Newmark has arranged the sale of the $16 million Oxford Court Portfolio—a nine-building medical office campus in Langhorne, Pennysylvania—to ESJ Capital Partners.

Newmark Senior Managing Directors Michael Margolis and David Dolan and Associate Angelo Brutico represented seller SkyREM on the transaction. “The Oxford Court portfolio is a highly compelling investment, driven by its strategic location and strong tenant roster. We look forward to seeing the assets continue to thrive under new ownership,” said Margolis.

The 152,310-square-foot portfolio was 72% leased at the time of sale. The portfolio is located adjacent to the Oxford Valley Mall, a Simon property that spans 1.2 million square feet, and Jefferson Bucks County Hospital.

Additionally, the Oxford Court portfolio benefits from being just three miles from the intersection of Interstate 95, Interstate 295 and the Pennsylvania Turnpike. This location provides accessibility to the Pennsylvania suburbs of Greater Philadelphia as well as central New Jersey.

Jay O’Meara, Justin Parsonnet and Ryan Reethof have left CBRE and joined Newmark to lead office investment sales in the Southeast, including Atlanta, Nashville, Tennessee, Charlotte and Raleigh, North Carolina, and Florida. O’Meara and Parsonnet will serve as vice chairmen, and Reethof will serve as senior managing director.

O’Meara, Parsonnet, and Reethof have more than 65 years of collective experience, bringing a southeast track record of over 110 million square feet of closed transactions and $23 billion in sales volume spanning more than 25 markets. They were notably involved with the $380 million sale of Bank of America Plaza, the $201 million disposition of 3630 Peachtree and the 1.4 million-square-foot King & Queen towers—the landmark assets on which Newmark was recently engaged for agency leasing.

O’Meara, Parsonnet, and Reethof have built a network of institutional and private clients, including Oaktree Capital Management, Highwoods Properties, Shorenstein, Cousins Properties, CP Group and numerous high-net-worth groups.

Newmark arranged the $14.5-million sale of 2 Executive Dr., an R&D/office/lab building located in Chelmsford, MA. Co-head of U.S. capital markets Robert Griffin and Newmark’s Boston Capital Markets team of Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell, Joseph Alvarado and Casey Valente represented the seller, Foxfield, and procured the buyer, Rhino Capital.

The Boston Debt & Structured Financing team of David Douvadjian, Sr., Timothy O’Donnell, David Douvadjian, Jr. and Conor Reenstierna secured acquisition financing for the buyer from Bank Newport. Senior financial analysts Bobby Alvarado and Harrison Zucco and Financial Analyst Grady Zink provided financial analysis support.

The building comprises 113,880 square feet, fully triple-net leased to two tenants: industrial giant Rockwell Automation and semiconductor manufacturer Qorvo. “The ownership benefits from the building’s credit-rated tenancy, substantial interior fit-out improvements, as well as its strong positioning among a high-performing cluster,” said Hallowell. “This is underscored by the single-digit vacancy rate and double-digit rental rate growth over the past five years.”

Galerie Living has obtained a $140 million refinancing of the Corso Atlanta, a 203-unit seniors housing community located at 3200 Howell Mill Road in Atlanta.

Newmark’s Healthcare & Alternative Real Estate Assets group secured the 10-year Freddie Mac senior loan, featuring five years of interest-only payments, and arranged a preferred equity investment from Kayne Anderson Real Estate Debt. Newmark says it’s the first-ever Freddie Mac senior preferred equity hard pay structure for a seniors housing asset. Newmark’s Sarah Anderson, Chad Lavender, Ryan Maconachy, Mills Poynor and Ben McElroy facilitated the transaction. 

Corso Atlanta’s offers a range of services, including independent living, assisted living and memory care options. Other amenities include include chef-led dining options, a heated pool, a fitness center, a salon, multiple outdoor spaces, a theater and both a floral shop and gift boutique. 

Galerie Living is a senior housing development and management company that has been in business for over 25 years, has four brands, over 1,000 units delivered and 3,000 occupants.

Newmark closed the $16.15-million sale of a multifamily portfolio, known as Westside Trio. Located in highly sought-after neighborhoods of West Los Angeles, the portfolio sold for a blended price per unit of $425,000 and blended price per foot of $573. The offering includes properties at 1823 N. Fuller Ave. in Los Angeles, 8730-8736 Holloway Drive in West Hollywood and 1335-1351 Manhattan Beach Blvd. in Manhattan Beach. 

Managing Director Anthony Muhlstein, Senior Managing Director Chris Benton, Co-Head of US Capital Markets Kevin Shannon, Vice Chairman Ken White and Senior Financial Analyst Gabe Munson represented the seller, Chishima Real Estate. The buyer was SLH Investments.   

“Shifting local policies are creating attractive acquisition opportunities in key areas of Los Angeles,” said Muhlstein “Securing three prime assets in West Hollywood, the Hollywood Hills and Manhattan Beach is a rare opportunity in a highly competitive market.”  

Newmark has arranged a structured equity facility to finance programmatic student housing acquisitions throughout the U.S. Newmark secured the continuing equity source on behalf of the sponsor, Tailwind Group, a Minnesota-based real estate development, management and leasing firm.

Newmark Vice Chairman and Head of the company’s Student Housing group Ryan Lang, Managing Director Jack Brett and Director Ben Harkrider led the equity placement.“Tailwind is one of our most valued clients, and their continued success and growth trajectory has been incredible to see,” said Lang. “We are grateful for the opportunity to advise on their strategic growth initiatives moving forward.”

Tailwind Group recently leveraged the facility to complete its first acquisition, The Reserve on West 31st, a 192-unit student housing community just 1.5 miles from The University of Kansas in Lawrence, Kansas. “We see great upside in this opportunity upon execution of our capital improvement plan combined with the strong fundamentals in the Lawrence market,” said Brandon Smith, Tailwind Group’s Vice President of Operations & Development.

Dean Zander has joined Newmark as vice chairman, based in the Century City office. He brings more than three decades of experience in the multifamily sector throughout Southern California, closing transactions valued at more than $11.9 billion across 58,000 units over the course of his career.

Zander will work with Newmark’s top West Coast professionals, including Mitch Clarfield, Kevin Shannon, Chris Benton and Anthony Muhlstein. Zander represents institutional and large private capital clients, including Nuveen, Blackstone, Western National Group, Sares Regis, Prudential Real Estate, Equity Residential, AvalonBay Communities, Essex Property Trust Inc., Jackson Square Properties, The Bascom Group and Davlyn Investments, among others.

Before joining Newmark, Zander held senior brokerage roles at CBRE, Berkadia and Sperry Van Ness. For nearly 25 years, he has consistently ranked among the top 5% of the most successful investment sales advisors at the brokerage firms with which he has been associated.

The Bulfinch Companies, Inc. has hired Newmark for retail leasing at 95 Mount Auburn Street in Cambridge, MA. The Newmark team includes Matt Curtin, Greg Covey, and Alden Bush, working with Bulfinch’s managing director of Leasing Mike Wilcox. 

Located in Harvard Square, the three-story, 13,308-square-foot building offers leasing options ranging from 2,000 to 8,308 square feet, with 5,000 square feet of retail space available.  

“With its prime location and exceptional amenities, 95 Mount Auburn Street holds great promise for retailers seeking to establish a presence in one of the most vibrant neighborhoods in Cambridge,” says Matt Curtin, executive managing director at Newmark. 

Newmark Group, Inc. has hired the team formerly with Affordable Housing Advisors (AHA), a leading brokerage team and platform previously housed out of Marcus & Millichap.

The Michigan-based team, which will operate as Newmark Affordable Housing Advisors (NAHA), is led by Vice Chairmen and Co-Heads of Affordable Housing, Andrew Daitch, Steven Miscavish, Seth Barnett and Matthew Kurzmann.

Daitch has over 25 years of experience, consistently ranking among the nation’s top multifamily advisors. Miscavish has over 22 years of industry expertise and leads the underwriting team that reviews more than 1,500 affordable housing properties annually. Barnett will continue to be responsible for sales in the Midwest, Mountain and Sunbelt regions, and Kurzmann will continue to lead New England, the Mid-Atlantic, and the South-Atlantic regions.

The team also includes Mason Campau, Ryan Moore, Ryan Warren, Neil Rosenthal, Jackson Ross, and Gerson Askenazy, based in Detroit; Nick Affronti and Jeremiah Jarmin, based in Phoenix; and Tyler Martin, based in San Diego.

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Courtesy of Sean Moynihan

Newmark Executive Vice President Sean Moynihan, right, with his wife, Angela, and son Jack.

A youth soccer coach-turned-office leasing agent is now the newly minted head of brokerage for Newmark’s Southeast region.

Sean Moynihan has been named the regional managing director and Southeast market leader for the publicly traded brokerage firm, overseeing Newmark’s offices in Atlanta, Memphis, Nashville, Raleigh, Charlotte, Tampa, Orlando, Boca Raton, Miami and Jacksonville. It’s a position that has Moynihan supporting brokers’ efforts to drum up new business as commercial real estate activity increases throughout the Southeast.

“Sean has become an influential part of our organization, helping to lead Newmark’s growth in the Atlanta market and the surrounding region,” Newmark Chief Revenue Officer Lou Alvarado said in a press release.

Moynihan joined Newmark in 2003 after a career as a youth soccer coach in Buckhead and steadily rose to become executive vice president, being named head of the Atlanta office in 2019.

As the leader in one of the country’s hottest office markets, Moynihan’s role has been focused on supporting the brokerage team rather than pursuing real estate deals himself, Moynihan told Bisnow in an interview Wednesday. That role will continue but on a wider geographic scale.

“That’s the beauty of what this is,” Moynihan said. “I’m a true coach. It’s not a player/coach model.”

Moynihan said activity throughout the Southeast has been on the rise, especially in Atlanta where multifamily and industrial are hot; in Boca Raton, which has been an active office market; in Nashville; and in Raleigh, which has seen a burst of life sciences demand. The Southeast doesn’t look to slow down as more companies look to relocate to follow the growing population.

“It’s the Sun Belt, right? The cost and quality of living in the Southeast are very strong and attractive to people,” he said. “I think that’s what’s driving commercial real estate activity.”