News Release: RiverBend Portfolio – Sale Transaction

Brown Gibbons Lang | Real Estate Partners is pleased to announce the real estate sale of the RiverBend Medical Group Portfolio. (Photo courtesy of BGLREP)

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 RiverBend Medical Group Portfolio, with locations in Chicopee, MA, Springfield, MA, and Agawam, MA.  BGLREP’s National Healthcare Real Estate group served as the exclusive advisors to the seller in the transaction.

The RiverBend Medical Group Portfolio (the “Properties” or “Portfolio”) consists of three medical office buildings totaling approximately 138,000 square feet that are strategically located to serve the residents of western New England.  The Portfolio is 100% occupied by RiverBend Medical Group, an affiliate of Trinity Health, and the largest group practice in the Pioneer Valley with eight locations and over 100 providers across multiple specialties.  The locations are approximately 10 – 15 miles north of Hartford-Springfield’s airport, Bradley International Airport, and provide convenient access to Mercy Medical Center and Baystate Medical Center where the physicians of RiverBend Medical Group provide inpatient services.

“There was a significant amount of investor interest in the RiverBend Medical Group Portfolio given that the portfolio is fully stabilized and anchored by RiverBend Medical Group, the premier healthcare provider in the Pioneer Valley”, said Christopher Stai and Clint Parker, Managing Directors of BGLREP’s National Healthcare Real Estate Group.  Adding, “The transaction was structured to achieve the ownership’s goal of providing physicians with the option of continued real estate ownership.”

“The investment market for healthcare real estate that is occupied by best-in-class healthcare providers continues to be very healthy.  We are seeing historically high valuations with each of our engagements, which is further enhanced by providing a proven discreet and controlled marketing process.” 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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