HRE Capital is pleased to announce the closing of the following transaction.
Hammes Partners
Sale of a 29-Building, 1,226,312 Square Foot Healthcare Real Estate Portfolio Located throughout the United States
The undersigned served as exclusive financial advisor to Hammes Partners
HRE Capital
Transaction Overview
Healthcare Real Estate Capital (“HRE Capital”) acted as a financial advisor to Hammes Partners (“Hammes”) in its disposition of a 29-building portfolio of medical office buildings (the “Portfolio”). The 1,226,312 square foot Portfolio features modern, well occupied assets with significant remaining average lease term and is geographically diverse, spanning Illinois, Wisconsin, Missouri, Ohio, Pennsylvania, Virginia, Washington D.C., Arizona, Texas, Mississippi, and Georgia. The Portfolio includes on-campus, off-campus, and adjacent-to-campus locations and was transacted subject to assumption of existing debt.
HRE Capital’s Role
On behalf of Hammes, HRE Capital undertook a tailored effort to identify a well-capitalized investor (“Investor”) seeking a substantial and geographically diverse medical office building portfolio and who was positioned to (i) acquire the Portfolio, (ii) take full responsibility for assumption or prepayment of significant existing debt and (iii) close this sizeable transaction on a truncated timeline in the face of a national pandemic complicating diligence. Leveraging its unmatched relationships in the sector, HRE Capital approached a pool of credible Investors that would allow Hammes to achieve its previously identified goals. With multiple offers in-hand from different types of Investors, Hammes ultimately selected a private equity real estate Investor with extensive experience in the healthcare real estate sector who provided the most attractive offer. HRE Capital assisted Hammes in navigating the simultaneous completion of buyer diligence, negotiation of purchase and sale agreement, and assumption of existing debt across multiple lenders to successfully achieve a year end closing.
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 execution 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 $1 1 billion in healthcare real estate transactions.
Hammes Partners
Since 2001, Hammes Partners and its affiliates have been investing in healthcare real estate on behalf of institutional and high net worth investors including endowments, foundations, pension funds, insurance companies, and family offices, among others. Its investment activities originated with Hammes affiliate Hammes Healthcare, which was founded in 1993 to provide specialized healthcare real estate consulting and project management services. Hammes Healthcare has managed more than 57 million square feet of ambulatory and acute care projects with a value of more than $23 billion for hospitals and health systems nationwide.
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