Presentation of Capabilities
Lingerfelt Commonwealth Partners
Research & Laboratory Disposition
Transaction Overview
Healthcare Real Estate Capital (“HRE Capital”) was selected as the exclusive financial advisor to Lingerfelt Commonwealth Partners (“Lingerfelt”) related to the disposition of a multi-tenant Class-A 261,823 square foot research and laboratory facility (“Asset”) located in downtown Richmond, Virginia. The Asset is strategically positioned on a thriving life science, medical and research campus and immediately adjacent to the 865-bed VCU Medical Center. With occupancy of 82 percent, the Asset is anchored by the investment grade rated Virginia Commonwealth University and a healthcare services company at the forefront of the early detection of chronic diseases. The Asset was constructed in three phases starting in 2008 and is the only privately owned laboratory facility in the submarket.
HRE Capital’s Role
On behalf of Lingerfelt, HRE Capital undertook a selective effort to identify a well-capitalized investor (“Investor”) positioned to aggressively pursue a unique sizable investment in a niche real estate sector under a restrictive timeframe. Leveraging its relationships in the healthcare real estate capital markets and with a firm understanding of potential capital sources, HRE Capital identified a qualified Investor that valued the quality and strength of the Asset and was able to achieve Lingerfelt’s various goals related to timing, pricing and structure. Ultimately acquired by a publicly traded healthcare real estate investment trust, the Asset furthered their presence in the life science sector while establishing a new geographic market and university relationship.
Lingerfelt Commonwealth Partners
Headquartered in Richmond, Virginia, Lingerfelt is a vertically integrated, full-service real estate investment management firm with numerous regional offices across the Southeast and Mid-Atlantic United States. From its humble beginnings in 1957, Lingerfelt and its partners have built, acquired and managed nearly 20 million square feet of commercial real estate valued at $2 billion including medical and professional offices, hotels, industrial, data and call centers and seniors housing.
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