$285,000,000
Sale of a 16-Asset, 856,179 Square Foot Portfolio of medical office buildings located in Greenville, South Carolina
The undersigned served as Financial Advisor
Transaction Overview
Healthcare Real Estate Capital (“HRE Capital”) acted as a financial advisor related to the transaction of a 16-asset, 856,179 square foot medical office portfolio (“Portfolio”) located in Greenville, South Carolina. The 99% leased Portfolio is primarily tenanted by affiliates of Greenville Health System (“GHS”), in addition to strategic third party providers. GHS is the largest provider in South Carolina and carries an “A” credit rating. In coordination with the transaction, GHS agreed to extend its leases and benefitted from certain extension incentives.
HRE Capital’s Role
Leveraging its deep relationships, broad knowledge of investors and owners of healthcare real estate and significant experience with large-scale strategic MOB portfolios (over $10 billion to-date), HRE Capital was able to facilitate this complex transaction. HRE Capital initiated discussions between the seller (Healthcare Trust of America), buyer (a joint venture between HCP and Morgan Stanley), and the primary tenant (Greenville Health System), lead negotiation of a transaction that met all parties’ respective goals, and assisted in coordination of diligence and closing of the transaction.
About the companies involved
Healthcare Real Estate Capital
HRE Capital is a national advisory firm focused solely on the healthcare real estate sector. Our clients include many of the nation’s top healthcare providers and developers / investors of healthcare real estate. HRE Capital’s focused model provides clients with an unmatched level of relevant experience and independent transaction analysis, structuring and executive capabilities. Providing both consultative and transaction oriented services, including asset/portfolio joint venture structuring, recapitalizations, dispositions and other related real estate advisory services, HRE Capital’s senior management team has been involved with over $10 billion in healthcare real estate transactions.
Healthcare Trust of America
Healthcare Trust of America, Inc. (NYSE:HTA) is the largest dedicated owner and operator of medical office buildings in the United State, comprising over 24.2 million square feet of GLA, with over $7.0 billion invested primarily in medical office buildings. HTA provides real estate infrastructure for the integrated delivery of healthcare services in strategic locations. Founded in 2006 and listed on the New York Stock Exchange in 2012. HTA has produced attractive returns for its stockholders that have significantly outperformed the S&P 500 and US REIT indices.
HCP, Inc
HCP, Inc. (NYSE:HCP) is a fully integrated real estate investment trust (REIT) that invests primarily in real estate serving the healthcare industry in the United States. HCP owns a large-scale portfolio diversified across life science, medical office and senior housing. Recognized as a global leader in sustainability, HCP has been a publicly-traded company since 1985 and was the first healthcare REIT selected to the S&P 500 index.
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