Offers Due: Wednesday, February 28, 2018
BGL Real Estate Partners has been retained by ownership to offer qualified investors the exceptional opportunity to acquire the fee-simple interest in the property that is 100% leased and occupied by Omega Hospital (the “Property” or “Building”). The Building, totaling approximately 39,972 rentable square feet, is located in Metairie, Louisiana, which is 8 miles northwest of New Orleans, the largest city in Louisiana and the 46th largest MSA in the country.
Omega Hospital is located 2.3 miles from East Jefferson General Hospital, a 473-bed acute-care hospital, and 4.4 miles from Ochsner Medical Center, an acute-care hospital with over 420 beds, where the physicians of Omega Hospital have admitting privileges and leadership positions.
Omega Hospital (“Omega”) opened its doors in 1998 as the first and original physician-owned specialty hospital in the Greater New Orleans Area.
Omega is comprised of fifty (50) practicing physicians, twenty-three (23) full-time nurses, and twelve (12) part-time nurses. The physicians are all Board Certified in one or more fields with 19 medical and surgical specialties represented including general surgery, orthopaedics, hand, sports medicine, bariatric, and neurosurgery. Licensed as a Short-Term Acute-Care Hospital, Omega has four (4) ORs and sixteen (16) private recovery suites, and a separate wing that is a dedicated oncology breast surgery center. Each of the operating suites was designed for the surgical specialty it supports.
The Property is being offered as a fee-simple investment with an initial Net Operating Income of $1,200,000 and fixed annual rental escalations of 2%. This is an exceptional opportunity to acquire a single-tenant net-leased investment with an established multi-specialty inpatient and outpatient surgical hospital that offers comprehensive care to the residents of the Greater New Orleans Region and throughout the state. Furthermore, Omega Hospital has consistently demonstrated a strong EBITDAR rent coverage ratio (2016: 4.72x), providing a durable income stream over the duration of the lease.
Stable Long-Term Cash Flow: Omega Hospital is a comprehensive multi-specialty inpatient and outpatient surgical hospital that completed over 3,000 surgical cases. Omega offers various services that include General Surgery, Orthopaedics, Sports Medicine, and Neurosurgery. The hospital is most well-known for its Breast Center, where they are conducting industry leading breast cancer procedures.
Strategic Location: Conveniently located less than 10 miles from the Louis Armstrong New Orleans International Airport and downtown New Orleans, the Property is highly visible along Interstate-10 with over 100,000 vehicles passing the Property each day.
Fully-Integrated Surgical Center: The physicians of Omega Hospital are all Board Certified in one or more fields, representing 19 medical and surgical specialties. The physicians and healthcare professionals at Omega Hospital offer an array of services ranging from family medicine, maternity, neuroradiology, nuclear medicine, paediatrics, radiology, rheumatology, physical therapy, and women’s health, as well as on-site lab and imaging.
Dominant Market Share: With fifty (50) physician providers, and numerous physician assistants, registered nurse practitioners.
Growing Msa & Region: The New Orleans Metro Area saw a decline in population after the global financial crisis of 2009 that carried into 2010. Since then, the area has rebounded year after year and has surpassed its population levels prior to the financial crisis. The area has grown an average of 2.10% over the past six years, which is twice the rate of national growth rate during that same period. Projections for the region remain the same growth rate as the previous six years, and the region should see a population surpass 1.3 million by the year 2020.
Patient Satisfaction: Omega Hospital prides itself on its strong referral network where 85% of its patients are referred by a former patient, and Omega’s diagnostic requirements exceed those of the local, state, and national standards.
Offers Due: Wednesday, February 28, 2018
Christopher L. Stai, CPA | Managing Director |
BGL Real Estate Partners
480.433.3494 | firstname.lastname@example.org
Clinton J. Parker | Managing Director | BGL Real Estate Partners
210.352.5832 | email@example.com
Andrew R. Larwood | Director | BGL Real Estate Partners
312.658.4756 | firstname.lastname@example.org
Allen C. Inman | Director | BGL Real Estate Partners
312.658.4754 | email@example.com
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