PROFESSIONAL BACKGROUND

As an Associate Director with Newmark’s Global Healthcare Services’ team, Mr. Gerakitis focuses on business development, strategic asset dispositions, transaction management and advisory services on behalf of providers, investors, developers and other institutions. In 2020, Newmark was recognized as the top brokerage in medical office building investment sales with over $1.4 billion in sales volume, capturing 19% of the U.S. market share as reported by Real Capital Analytics.

Richard has more than a decade of experience working with healthcare real estate asserts and portfolios and has advised on over $200 million in related transactions. His clients include multiple independent specialty groups, real estate developers and investors.

• Prior to Newmark, Richard developed his financial background at Southern Company, one of the largest energy providers in the United States. He had multiple roles as a budget analyst and within the treasury department. In addition, Richard also served as a legislative aide and legislative correspondent in the U.S. Senate; gaining a working knowledge and familiarity with policy and program language, which is particularly helpful within the healthcare industry.

Partial List of Recent Transaction Experience

• Urology of Virginia; two-building portfolio of medical office, Virginia Beach, VA: $38.4 million (achieved record local pricing at $445/SF)

• Belpre Medical Campus; hospital-anchored, four-building portfolio, Belpre, OH: $64.2 million (executed a tax advantaged sale)

• Jefferson City Medical Group; 184,181-SF medical office building (operated by national hospital system), Jefferson City, MO: $56.1 million