Cushman & Wakefield Negotiates Sale of Five-Building Medical Office Portfolio in Orlando for $16.2 Million
Anne Spencer and Travis Ives Represented a Private Group of Investors
Cushman & Wakefield has negotiated the sale of a Class A medical office portfolio for $16.2 million. The portfolio consists of five buildings totaling 59,644 square feet, which are each 100 percent leased to a single, credit-rated Orlando-based health system.
Orlando-based Director Anne Spencer and San Diego-based Senior Director Travis Ives, both with Cushman & Wakefield’s Healthcare Advisory Practice, represented a private group of investors in the portfolio’s disposition. Spencer specializes in healthcare real estate services throughout Florida. She collaborated on this assignment with Ives, a member of the firm’s national Healthcare Capital Markets team.
The buyer is Global Medical REIT, which acquires healthcare assets throughout the United States, including several recent acquisitions in Central Florida.
“We implemented a controlled and competitive process that provided national exposure and secured multiple offers on this portfolio, including interest from a wide variety of investor types,” said Spencer. “Despite the challenge of some near-term lease expirations, our team successfully maximized value for the client with a strategic marketing campaign that brought the right buyers to the table and highlighted the positive attributes of the portfolio.”
The five properties were built between 2006 and 2008 and are located in strategic markets throughout the Greater Orlando region including Orlando, Lake Mary, Longwood and Ocoee. Each building is on a separate lease with staggered expirations.
- 9964 University Blvd. Orlando, FL 32817 (15,000 SF)
- 4137 Hunters Park Ln. Orlando, FL 32837 (10,458 SF)
- 725 Rodel Cove Lake Mary, FL 32746 (14,000 SF)
- 550 E. State Rd 434 Longwood, FL 32750 (11,550 SF)
- 1134 Kelton Ave. Ocoee, FL 34761 (8,636 SF)
“Our hybrid-team approach of combining local market expertise with national capital markets insight was the perfect formula for success on this assignment,” said Ives. “It’s a great example of the benefit of our firm’s collaborative platform to selling healthcare assets across the country.”
About Cushman & Wakefield’s Healthcare Advisory Practice
Cushman & Wakefield’s Healthcare Advisory Group provides healthcare organizations with strategic and transformational real estate services that directly affect positive business outcomes. More than 300 real estate specialists drawn from a variety of real estate disciplines, including consulting, brokerage, project management, property/ facilities management, and valuation, help clients make decisions that enhance patient care and accessibility, generate efficiencies across their platforms, and maximize the value of their real estate. In short, we assist in aligning real estate with healthcare missions, whether that focus involves executing on a single specialty, planning for new care delivery models, or combining multiple practices. Our expertise in the healthcare industry, combined with deep local market knowledge, strong relationships with health systems, physician practices, and other healthcare providers, allows for rapid response to our healthcare clients’ needs.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Communications Specialist, Florida
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