Northmarq arranges $37.6M in sales, $25.2M financing for 8-healthcare facility portfolio across Southeast & Midwest

TULSA, Okla. — Northmarq’s Tulsa Commercial Investment Sales team led by David Annett and its St. Louis Debt + Equity team led by Jada Purchase successfully arranged the sale and financing for five separate 1031 exchanges on behalf of its client, Maple Street Management.

The team facilitated approximately $37.6 million worth of sales — and $25.2 million in financing — on eight properties across four states. Northmarq’s Triple Net Lease Financing team ran the strategic debt process, and the Tulsa based sales team cooperated with the National Healthcare Group on one transaction. Two of the exchanges were executed in collaboration with Northmarq’s 1031 exchange team.

The portfolio included deals in:

• Texas: five properties.
• Florida: one property.
• Missouri: one property.
• South Carolina: one property.

“The fact that we had five separate entities in a 1031 as compared to a single $37 million exchange caused this to be a tremendous balancing act,” Annett said. “We had to simultaneously satisfy each entity’s exchange while looking at the portfolio level blend of credit, locations and specialties to successfully navigate these deals. We had to move deals around between our separate exchange buckets for deal size requirements, debt service coverage ratio requirements, and more — all while balancing seven different seller expectations. It was very challenging. I am proud that we were able to blend our client above a 7% unlevered return with a weighted average lease term of just over six and a half years across the portfolio.”

These transactions highlight Northmarq’s integrated platform, combining investment sales, debt placement, and specialized 1031 exchange execution across multiple markets and property types. The portfolio included healthcare facilities across four states and closed successfully amid a dynamic capital markets environment.

“We were able to originate favorable loans with multiple lenders to achieve maximum loan proceeds,” Purchase said. “This allowed the sponsors to maximize the number of assets available to complete their 1031 exchanges.”

The deals underscore growing investor interest in healthcare real estate, which remains resilient due to long-term leases, stable tenant credit, and rising demand for outpatient services.

“Northmarq's combined range of services added essential pieces to our set of 1031 exchanges. From start to finish, including from the disposition of the downleg, sourcing upleg options, debt options, and even handling our 1031 accommodation, the combined services and teamwork allowed us to solve problems in a collaborative manner and pivot as needed,” Maple Street Management Partner and Chief Investment Officer David Weissman said. “Each member of the Northmarq team went well beyond the regular level one would expect and acted as if they were full team members on the principal side. Their dedication to our relationship and success stands apart and creates a positive atmosphere for future similar transactions.”

The properties feature a combined 94,727 square feet of healthcare facility space, offering a variety of medical care services to their communities including preventative care, diagnosis, cancer treatment, case management, diagnosis, specialists and more.