Newmark Completes $255 Million Sale of Four-Property Seniors Housing Portfolio in the Phoenix MSA

PHOENIX, Dec. 2, 2022 /PRNewswire/ -- Newmark announces the $255 million sale of a four-property, Class A seniors housing portfolio?LivGenerations?located in Phoenix, Arizona. Newmark represented the seller, regional owner/operator and developer Liv Communities, in the transaction.

The LivGenerations portfolio totals 546 units comprising independent living, assisted living and memory care units. The seller built all four communities?LivGenerations Agritopia, LivGenerations Ahwatukee, LivGenerations Pinnacle Peak and LivGenerations Mayo Boulevard?between 2014 to early 2022.

Located in excellent submarkets throughout Phoenix, Scottsdale and Gilbert, the properties are situated near many high-end single-family residences and brand-new multifamily communities. Each property is proximate to upscale walkable retail, including numerous shopping centers, restaurants and fitness centers.

Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark'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, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues of approximately $3.1 billion for the twelve months ending September 30, 2022. Newmark'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 @newmark.

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SOURCE Newmark Group, Inc.