Offers requested by Friday, February 16th, 2018 – 5:00 Pm Pst
THE OFFERING
CBRE’s U.S. Healthcare Capital Markets Group is pleased to exclusively offer the opportunity to acquire the Edmonds Medical Center (the “Property”). The Property is a two-story, 54,516 rentable square foot medical office building located near the Swedish Edmonds hospital campus in Edmonds, Washington. The Edmonds Medical Center was constructed in 1991 and was expanded and renovated in 2007 to accommodate more room for additional medical services.
The Property is 100% leased to a variety of healthcare provider tenants with outpatient specialty practices that include podiatry, physical therapy, ophthalmology, family medicine, surgery, chiropractic, pain management, cardiology, pulmonary/asthma, and a pharmacy. The Property has an average remaining lease term of 7.8 years with only one tenant’s term scheduled to expire in the next five years, providing a new owner with a stable and long-term cash flow for the foreseeable future.
Investment Highlights
- Anchored by Leading Physician Practice
- Physician Practice Acquisition by Virginia Mason Health System (Moody’s Baa2, S&P BBB)
- 12% Leased by Investment Grade Health System Tenant – Providence Health & Services (Moody’Aa3, S&P AA-, Fitch Ratings AA+)
- Measured Exposure with a Stable, Growing Cash Flow
- Building Expansion and Large Capital Investment by Tenant
- Diverse, Synergistic Tenant Specialty Mix
- Highly Accessible, Amenity Rich Location
- Excellent Parking Ratio
- Appealing Healthcare Trends
- Delivered Free and Clear of Existing Debt
Contact Information
CBRE U.S. Healthcare Capital Markets Group
| Chris Bodnar Vice Chairman +1 303 628 1711 chris.bodnar@cbre.com |
Lee Asher Executive Vice President +1 404 504 5965 lee.asher@cbre.com |
Ryan Lindsley Senior Director +1 303 628 1745 ryan.lindsley@cbre.com |
CBRE Puget Sound Healthcare Properties Team
| Paul Carr Senior Vice President +1 206 292 6005 paul.carr@cbre.com |
Steve Perovich Senior Vice President +1 206 292 6059 steven.perovich@cbre.com |
Marcus Yamamoto First Vice President +1 206 292 6062 marcus.yamamoto@cbre.com |
CBRE Debt & Structured Finance
| Greg Greene Senior Vice President +1 214 979 5617 greg.greene@cbre.com |
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