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News Release: Mission Accomplished: Hybrid Sale-Leaseback of Multi-Specialty ASC in Panama City, FL

Recently Sold

HREA
healthcareREA.com

Class “A” Multi-Specialty ASC

16,926 SF

Panama City, Florida

Announcement

HREA | Healthcare Real Estate Advisors is pleased to announce the real estate sale of an approximate 17,000 SF ambulatory surgery center located in Panama City, Florida. The state-of-the-art multi-specialty ambulatory surgery center consists of four operating rooms and two GI/pain procedures rooms with 42 board-certified surgeons providing traditional, robotic and laser surgery across a wide array of surgical procedures. With a metro population of nearly 200,000 residents, the ASC has a wide patient catchment area that includes the Florida Counties of Bay, Walton, Holmes, Washington, Jackson, Calhoun, and Gulf.

In February 2020, the physician-owners of the ASC engaged an investment bank to sell a majority interest to SCA, a leading national surgical management company. The real estate transaction, structured as a Hybrid Sale-Leaseback, was previously anticipated and structured in a manner that ensured maximum proceeds and long-term control of the real estate without compromising the overall business strategy.

Ultimately, the real estate sale provided the physician partners with the ability to continue to own a minority share of the real estate (30%) in a non-taxable manner while adding additional tax-deferred liquidity and cashflow through an UPREIT structure. In addition, the new lease provides the ASC with capital to expand the building to add additional ORs, procedure rooms, and clinical areas to support the ASC’s long-term growth.

About HREA

HREA | Healthcare Real Estate Advisors is a national leader in advising healthcare providers and real estate investors with various monetization strategies, including disposition, debt & equity recapitalization, and tax-deferred structures, such as the §1031 Exchange or UPREIT. In addition, HREA’s capabilities also include providing health systems and physician groups with 100% non-recourse financing for new development and expansion, as well as monetizing surplus and non-essential real estate assets.

CHRISTOPHER L. STAI, CPA
Managing Director
480.433.3494
cstai@healthcareREA.com
CA RE: 01836740
Raleigh, NC

JOSHUA D. H. REES, MRICS
Director
858.312.0657
jrees@HealthcareREA.com
CA RE: 02039922
San Diego, CA

STEPHEN M. REEVES, JR.
Director
717.856.4496
sreeves@healthcareREA.com
FL RE: SL3388036
Cape Coral, FL

JANTZEN B. GONGON
Director of Marketing
619.894.5949
jgongon@healthcareREA.com
San Diego, CA

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