Newmark Arranges $280 Million Financing for 14-Property Long Island Medical Office Portfolio With Nomura and Citi
NEW YORK — June 17, 2026 — Newmark has arranged $280 million in financing for a 14-property medical office and suburban office portfolio spanning approximately 1.51 million square feet across Long Island, New York, the firm announced. Nomura and Citi provided the funding on behalf of the borrower, a joint venture of TPG Real Estate Partners and The WE'RE Group.
Deal Structure and Newmark Team
Jordan Roeschlaub, Co-Head of Global Debt & Structured Finance at Newmark, and Vice Chairman Chris Kramer arranged the financing. Director Tim Polglase, Associate Director Dan Axelson, and Associate Niv Shahmoon supported the transaction.
"The portfolio's combination of durable cash flow, significant healthcare tenancy and compelling medical office conversion potential created a highly attractive financing opportunity," Roeschlaub said in a statement. "Lenders were particularly drawn to the strength of the sponsorship, the portfolio's diversified income stream and the favorable long-term fundamentals supporting medical office demand throughout Long Island."
Portfolio Overview: Location, Tenancy and Occupancy
The 14 assets are concentrated in the Long Island submarkets of Lake Success, Jericho and Melville, situated along the Long Island Expressway corridor. The portfolio has more than 75 tenants across its rentable base. The weighted average remaining lease term stands at 5.3 years. The occupancy rate was listed in the press release as "876%," which appears to be a typographical error; the correct figure was not confirmed in the source.
Approximately 58% of the portfolio's rentable area is dedicated to medical office use. The ownership group is actively repositioning select traditional office assets to medical office space, citing growing healthcare demand across the region. Anchor tenants include affiliates of ProHealth, a subsidiary of Optum Health, as well as Northwell Health, NYU Langone School of Medicine, New York Blood and Cancer, and Catholic Health — a roster described in the announcement as including investment-grade and healthcare-related credits.
At $280 million across roughly 1.51 million square feet, the financing equates to approximately $185 per square foot of debt. The press release does not disclose valuation, leverage ratio, interest rate, or loan term.
Portfolio Context
The Long Island Expressway corridor submarkets where this portfolio is concentrated — Lake Success, Jericho and Melville — serve as the locations for the 14 assets. According to the announcement, approximately 58% of the portfolio's rentable area is dedicated to medical office use, with ownership actively repositioning select traditional office assets to medical office space to capitalize on growing healthcare demand across the region.
The conversion component of the portfolio's business plan reflects an ownership strategy described in the press release. The presence of Nomura and Citi as co-lenders on the transaction is noted in the announcement.
About the Parties
Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate services firm that reported revenues of more than $3.4 billion for the twelve months ended March 31, 2026. The company operates from more than 185 offices with over 9,600 professionals across four continents, according to the firm.
TPG Angelo Gordon is identified in the press release as a joint venture partner in the ownership group. The WE'RE Group serves as the co-owner in the joint venture. Nomura and Citi acted as the capital providers for the financing.
Sources: Newmark press release, June 17, 2026