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February 27, 2023 9:00 AM

�ǿ�����app���� announces the $72.7 million sale of a five-building, Class A medical office building portfolio. The 179,000-square-foot portfolio comprising outpatient medical office buildings and surgery centers spans four states—Pennsylvania, Connecticut, Georgia and Texas. �ǿ�����app���� represented the seller in the sale to a state pension fund.

�ǿ�����app���� Senior Managing Director Jay Miele, Executive Managing Director Ben Appel, and Senior Managing Directors John Nero and Michael Greeley of �ǿ�����app����’s Healthcare Capital Markets group led the transaction, in cooperation with local licensees.

“This sale marks an important milestone in our ongoing advisory work with this client,�� said Miele. “The opportunity to invest in strong institutional-quality assets in the healthcare real estate sector was attractive to buyers, especially given that industry-leading providers anchor the portfolio.��

At the time of the sale, the institutional-quality portfolio of properties was 99% leased overall, with a weighted average remaining lease term of 5.5 years primarily to leading health systems, credit tenants and dominant physician networks. Since 2018, portfolio ownership has meticulously maintained each asset’s best-in-class, high-end medical office finishes through over $4.5 million in capital improvements.

“The properties are anchored by market-leading health systems, with strong track records of providing mission critical services to the community and are therefore poised for continued growth and long-term success,�� said Appel.

About �ǿ�����app����
�ǿ�����app���� Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“�ǿ�����app������), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. �ǿ�����app����’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, �ǿ�����app���� provides superior service to clients across the industry spectrum. �ǿ�����app���� generated revenues of approximately $2.7 billion for the year ending December 31, 2022. �ǿ�����app����’s company-owned offices, together with its business partners, operate from approximately 180 offices with nearly 6,700 professionals around the world. To learn more, visit nmrk.com or follow .

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