Physician group welcomes $141 million sale-leaseback
By John B. Mugford
Medical group tenant was big driver in six-building MOB portfolio deal
The reception area of 95 Crystal Run Road in Middletown, N.Y., which was part of the $141 million Crystal Run MOB portfolio. (Photo courtesy of Raymond James)
Since its founding 17 years ago, a physicians’ group in the mid-Hudson Valley area of New York has built itself into one of the leading independent, multi-specialty physician practices in the United States.
“As (one healthcare real estate consultant) always tells me, a provider’s market share in its respective area is the key to its success over the long term,” says Danny Prosky, president and chief operating officer of Newport Beach, Calif.-based Griffin-American Healthcare REIT II, a prolific investor in healthcare real estate (HRE).
“And this group owns the market there.”
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