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Newmark Knight Frank Handles Sale of Anaheim Office Building to Leading Healthcare Provider AltaMed Health Services

Newport Beach, CA (12/17/2018)

8:00 AM

Newmark Knight Frank (NKF) has completed the purchase of a 90,533-square-foot three-story office tower located at 1325 N. Anaheim Blvd. in Anaheim on behalf of AltaMed Health Services, Southern California's leading nonprofit health care system, delivering care to more than 300,000 residents across LA and Orange counties.

AltaMed will bring multiple service programs to the facility as part of an overall strategic expansion in North Orange County. Plans for the facility, which will be converted from office to medical office uses, include urgent care, medical, dental, pharmacy, senior care, as well as administrative offices.

NKF Executive Managing Director David Kluth, Senior Managing Director Justin Hodgdon, Managing Director John E. Scruggs and Associate Mai Hu represented the buyer and tenant, AltaMed, in the transaction with seller, North Anaheim Office LP. CKE Restaurants was represented by CBRE Senior Vice Presidents Dean Chandler and Rick Warner.

The building was previously occupied by CKE Restaurants for its corporate headquarters. AltaMed will sublease the entire building from CKE for approximately five years.

"This was a highly unique transaction in that we were able to both complete a sublease and purchase for AltaMed, who looks to build upon its expansion of services in Orange County," said Hodgdon.

"This is especially good news since AltaMed immediately takes the place of CKE who announced a relocation of their operations out of state. For Anaheim and the surrounding area, the expansion of AltaMed helps to bring jobs back to the community," noted Kluth.

"We've been serving the people of Orange County for the past ten years, but the need for access to more affordable quality health care continues to grow," said Cástulo de la Rocha, President and CEO at AltaMed Health Services. "This facility will improve access to a wide range of clinical services, create new career opportunities and expand AltaMed's presence in north Orange County."

About AltaMed Health Services
AltaMed understands that when people have health care that looks at their individual health needs and respects their cultural preferences; they grow healthy-and help their families do the same. So we're delivering complete medical services to communities across Southern California. Since 1969, our team of qualified multicultural and bilingual professionals-from these same communities-has focused on eliminating barriers to primary care services, senior care programs, and even essential community services. With nearly 50 accredited health centers and service facilities, we remain committed and ready to help you grow healthy at any age. To learn more about AltaMed, visit: www.AltaMed.org.

About Newmark Knight Frank
Newmark Knight Frank ("NKF"), operated by Newmark Group, Inc. ("Newmark Group") (NASDAQ: NMRK), is one of the world's leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF's 16,000 professionals operate from approximately 430 offices on six continents. NKF's investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.

Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark Group undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark Group's Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.