Transaction Overview
Viking Partners (“Viking”) engaged Healthcare Real Estate Capital (“HRE Capital”) as its exclusive advisor with respect to the sale of a 148,896 square foot, 98 percent occupied medical office building located on the campus of, and directly connected to, the Mid-Hudson Regional Hospital (“Hospital”) in Poughkeepsie, New York. The Atrium at Mid-Hudson Regional (“Atrium”) was 79 percent leased to the Hospital, which is a member of Westchester Medical Center (“WMC”), one of upstate New York’s largest non-profit health systems.
HRE Capital’s Role
HRE Capital undertook a comprehensive effort to coordinate a competitive bid process for the Atrium, marketing the asset to a highly regarded and reputable audience of core and value-add medical office investors located across the United States. Due to the competitive process and a long-term lease by the Hospital, which overcame certain hurdles (short-term ground lease and flat rental rate), HRE Capital was able to meet Viking’s goals related to timing, pricing and structure.
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 has completed engagements approaching $3.0 billion over the last several years.
Viking Partners
Viking is a private equity real estate firm that owns and operates a portfolio of office, mixed use and retail properties throughout the Midwest and Southeast. Since 1991, the principals of Viking have invested in more than 100 commercial real estate projects totaling over four million square feet valued at over $500 million.
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