Transaction Overview
MedProperties Group (“MPG”) engaged Healthcare Real Estate Capital (“HRE Capital”) as its exclusive financial advisor with respect to the disposition or recapitalization of a 219,000, six building medical office portfolio (“Assets” and collectively the “Portfolio”). The Portfolio was approximately 83 percent leased in aggregate, and featured a critical mass throughout the Chicago area, the third largest market in the nation, significant occupancy by tenants with investment grade credit ratings including leading regional hospitals and well recognized national providers, and recently constructed or renovated Assets. The Portfolio further offered a compelling component of additional future economic upside.
HRE Capital’s Role
On behalf of MPG, HRE Capital coordinated a competitive bid process for the Portfolio through approaching credible purchasers that would allow MPG to achieve a variety of previously identified goals. Due to HRE Capital’s successful track record with strategic portfolio transactions, the strength of MPG as an operator and the quality of the Portfolio, MPG was able to achieve all of its qualitative and quantitative goals for the transaction. MPG formed a partnership with the investor in a recapitalization structure that will also allow the new partnership to pursue additional medical properties in the Chicago market. MPG will continue to provide long-term management and leasing responsibilities for the Assets.
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 $4 billion over the last several years.
MedProperties Group
MPG, founded in 1994, is an established medical real estate investment, development and operating platform based in Chicago and Phoenix. The team is comprised of senior real estate professionals with institutional backgrounds and healthcare provider experience. MPG targets acquisition, development and redevelopment investments in a variety of healthcare types with a focus on medical office, specialty facilities and life science properties. Additional information about MPG can be found on the company’s website at www.medpropertiesgroup.com.
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