NGKF Lands Huge Healthcare Contract

NEW YORK CITY—Newmark Grubb Knight Frank has landed what is believed to be one of the largest corporate-services assignments on record, the 65-million-square-foot Ascension Health system. Formed 15 years ago under the aegis of the Catholic Church, it’s the largest not-for-profit healthcare system in the US, comprising 131 hospitals across 23 states and the District of Columbia.

“Ascension is moving its real estate holdings to a more unified national organization structure, and chose NGKF in order to achieve efficiency, savings and improved quality of care, as well as to adjust to changes in the healthcare market,” says NKGF CEO Barry M. Gosin. The agreement covers tenant advisory, landlord advisory and disposition, lease administration, portfolio optimization and real estate cost reduction strategies and implementation.