Brown Gibbons Lang | Real Estate Partners (“BGLREP”), a division of Brown Gibbons Lang & Company (“BGL”), is pleased to announce the real estate sale of the Kleiman | Evangelista Eye Center, located in Arlington, Texas. BGLREP’s National Healthcare Real Estate team served as the exclusive advisors to the sellers in the transaction.
Kleiman | Evangelista Eye Center (the “Property”) is a newly built physician-owned state-of-the-art outpatient surgical center specializing in ophthalmology care. Completed in 2015, the Property consists of approximately 27,500 square feet and is strategically located in the center of the DFW Metroplex along the primary interstate connecting Arlington to Dallas and Fort Worth, which has an average daily traffic count of 191,000 vehicles. In addition, the Property and patients benefit from its proximity to Arlington Highlands, the city’s largest retail shopping center with more than twenty-five restaurants and casual dining options, as well as over fifty retail stores, and a movie theater.
Kleiman | Evangelista Eye Center is Arlington’s premier ophthalmology practice with three locations serving Dallas and the greater DFW area with over 17,000 patient visits in 2015. The Arlington location is Kleiman | Evangelista Eye Center’s primary location and includes an integrated accredited ambulatory surgery center that is comprised of four (4) surgical suites, eighteen (18) exam rooms, and six (6) EPIC rooms.
In addition to the sale of Kleiman | Evangelista Eye Center, BGLREP’s National Healthcare Real Estate team also recently served as the exclusive advisors to five (5) additional separate healthcare real estate sale transactions in Texas, including the Texas Spine & Joint Hospital, the premier short-term acute care hospital in East Texas, which is an approximate 170,000 square foot physician-owned surgical hospital in Tyler, Texas, as well as a 107,000 square foot outpatient surgery center and medical office building located in West Texas.
“The sale of Kleiman | Evangelista Eye Center continues BGLREP’s investment sale advisory services in Texas where BGLREP has an office located in San Antonio. The outcome of the transaction represents continued market demand for clinical healthcare real estate that is supported by best-in-class healthcare providers” said Christopher Stai and Clint Parker, Managing Directors of BGLREP’s National Healthcare Real Estate Group.”
“The investment market for clinical real estate occupied by a physician-owned practice group providing patient-centric care is very strong. In particular, the demand for higher acuity or more specialized facilities continues to draw a broad range of investment groups enabling our clients to achieve historically high valuations.” said Andrew Larwood and Allen Inman, Directors of BGLREP’s National Healthcare Real Estate Group.
BGLREP has completed 40 healthcare real estate sale transactions over the past 24 months for a total value of nearly $750 million. BGLREP’s National Healthcare Practice specializes in representing and advising owners of healthcare real estate through a variety of transaction structures, including tax-deferred transactions, such as an UPREIT or a §1031 like-kind exchange, as well as an outright sale or equity recapitalization that enables owners to capitalize on current investment demand and historically high valuations while retaining a reduced level of real estate ownership.
About Brown Gibbons Lang | Real Estate Partners
BROWN GIBBONS LANG | Real Estate Partners (BGLREP), a division of Brown Gibbons Lang & Company, is a leading national advisor in healthcare real estate, specializing in providing healthcare real estate owners with tailored transaction strategies, including debt and equity recapitalization, sale-leasebacks, partial sale-leasebacks, tax deferred transactions, such as an UPREIT or a §1031 like-kind exchange, and other nuanced transactions designed to optimize value and flexibility for the client.
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company is a leading independent investment bank serving the middle market. BGL specializes in mergers and acquisitions advisory services, debt and equity placements, financial restructuring advice, and valuations and fairness opinions, with global industry teams in Business Services, Consumer, Environmental & Industrial Services, Healthcare & Life Sciences, Industrials, and Real Estate. BGL has offices in Chicago, Cleveland, Irvine, Philadelphia, and San Antonio, in addition to Global M&A partner offices in more than 50 countries across 5 continents. BGL is able to deliver to our clients unparalleled access to strategic relationships, investors, and opportunities globally. For more information, please visit www.bglco.com.
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