Wilmington, NC – MedSouth Healthcare Properties, LLC (MedSouth) is pleased to announce the sale leaseback acquisition of 1120 Medical Center Drive, a fully occupied, single tenant medical office building located in Wilmington North Carolina.
The property is located in the medical arts district of Wilmington NC and is positioned across the street from New Hanover Regional Medical Center (NHRMC) which serves as the main acute care center for Wilmington NC and the surrounding counties.
The property is occupied by Coastal Carolina Eye Clinic (CCEC) who is one of the most well respected, multi-specialty eye care practices in the Cape Fear region. CCEC has been in business since 1975 and offers a multi-faceted approach to eye care. The practice achieved many innovative “firsts” in their field including the first visually successful corneal transplants in Southeastern NC.
Bill Transou, Co-Founder and Principal of MedSouth said “This marks our second medical office acquisition in Wilmington and further solidifies our interest within the area for quality medical office opportunities”. Benjamin E. Bivens, Co-Founder and Principal of MedSouth said “We are very pleased to have partnered with CCEC on structuring a successful sale leaseback transaction. We took note of CCEC’s stature in the market place and experience as a practice group and were honored to be able to work with them to meet their real estate needs.” Mark Johnson and Janet Rose with Coldwell Commercial Banker represented the seller in the transaction. MedSouth represented itself as the buyer.
This transaction marks the sixth acquisition milestone for MedSouth Healthcare Properties, LLC since its inception in May 2013. MedSouth currently owns and manages 12 medical office properties totaling over 128,000 square feet throughout the Southeastern United States.
MedSouth Healthcare Properties, LLC is a private real estate investment firm based out of Charlotte, NC focused on acquiring and managing income producing healthcare properties located in the Southeastern United States. The firm provides sale leaseback solutions for doctor groups and hospital organizations looking to grow their organization by unlocking the capital in their real estate. MedSouth Healthcare Properties, LLC also works with private investors, developers and real estate firms that are interested in selling their income producing healthcare real estate.
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