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Newmark Knight Frank Completes Sale of Unique Office, Legal, Medical Office Property

Los Angeles, CA (04/25/2019)

9:00 AM

Newmark Knight Frank (NKF) has announced the $11.9 million sale of a 16,889-square-foot jewel box boutique office, legal, and medical building located at 864 South Robertson Boulevard near Beverly Hills.

NKF Senior Managing Directors Steven Salas and Daniel Chiprut and Broker Services Specialist Britney Kagawa represented the seller, an affiliate of Optimus Properties, LLC, in the $11.9 million sale to the buyer, AHO, LLC.

Fully renovated and upgraded in 2018 by Optimus Properties, 864 South Robertson Boulevard features a brand new lobby along with new façade, bathrooms, elevator cab finishes, LED lighting, flooring, and access security system. The property, at 100 percent occupied, has a very stable and conservative tenant mix with general office and medical tenants.

"With a shortage of investment product on the Westside, we continue to see a strong demand for quality office and medical investments," said Chiprut.

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.

For Media Inquiries Contact:
Deb Bergman
Vice President PR and Communications
Newmark Knight Frank
T 303.260.4307