FOR IMMEDIATE RELEASE
H2C Advises on the Sale/Leaseback of High Point Office Building in Coordination with Corporate Sale
NEW YORK — May 19, 2020 — Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused strategic advisory and investment banking firm, served as the exclusive financial advisor to Advanced Home Care, Inc. (“Advanced Home Care”), a post-acute healthcare company owned by 13 not-for-profit healthcare systems in the Southeast, for the sale/leaseback of its regional headquarters building in High Point, N.C. (the “Property”).
H2C conducted a highly efficient and thorough marketing process for the Property that resulted in multiple offers, which were received as early as one week after launch. The transaction successfully closed simultaneously with the M&A transaction, demonstrating a well-controlled marketing and sale process. The price—$17.075 million, or $166 per square foot—was one of the highest prices per square foot achieved for a non-clinical asset in the Greensboro-Winston-Salem-High Point MSA.
“This was a highly complex, multi-party transaction that required close coordination between our M&A and Real Estate teams to run a competitive and efficient process, maximizing the proceeds for our client’s 13 health system owners and ultimately closing the three related transactions simultaneously,” Hanlon said.
According to Tarpley, “The expertise and experience of our M&A team provided a deep understanding of the tenant’s operations and the utility of the Property, which allowed our Real Estate team to thoroughly convey the value to investors. This resulted in multiple offers and the eventual closing with a well-regarded, publicly traded REIT.”
ABOUT ADVANCED HOME CARE
For over 30 years, Advanced Home Care, a not-for-profit, hospital-affiliated company offered full-service home health, infusion, and durable medical equipment services for patients in the comfort of their own homes. Owned by 13 health systems, Advanced Home Care operated locations in Georgia, North Carolina, South Carolina, Tennessee, and Virginia. The company provided services for more than 40,000 patients and was the largest Medicare-/Medicaid-certified home care organization in the Southeast. Its affiliation with outstanding health systems helped Advanced Home Care become an industry leader in the development of leading-edge disease management programs.
ABOUT HAMMOND HANLON CAMP LLC
Hammond Hanlon Camp LLC (“H2C”) is an independent strategic advisory and investment banking firm committed to providing superior advice as a trusted advisor to healthcare organizations and related companies throughout the United States. H2C’s professionals have a long track record of success in healthcare mergers and acquisitions, capital markets, real estate, and restructuring transactions, acting as lead advisors on hundreds of transactions representing billions of dollars in value.
Hammond Hanlon Camp LLC offers securities through its wholly owned subsidiary H2C Securities Inc., member FINRA/SIPC. For more information, visit h2c.com.
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