Transaction Overview
Healthcare Real Estate Capital (“HRE Capital”) was selected as the exclusive financial advisor to AW Property Co. (“AW”) related to securing debt financing for the acquisition of a 48,267 square foot medical office building (“Asset”) located in Sarasota, Florida. Built in 2006, the multi-tenant medical office building is located directly adjacent to the Sarasota Memorial Hospital (“Hospital”). The Hospital is the dominant provider in the market and has recently implemented approximately $250 million in strategic capital improvements across its campus. The Asset was acquired from multiple owners under a condominium structure, which was dissolved by AW post-closing.
HRE Capital’s Role
On behalf of AW, HRE Capital undertook a competitive effort to source debt financing to fund the acquisition of the Asset. HRE Capital’s efforts included approaching a select pool of debt providers with significant experience in the healthcare real estate sector. Based on HRE Capital’s efforts, AW’s track record and the quality of the opportunity, several proposals were received from a diverse set of real estate lenders. Ultimately, AW selected a well-known, healthcare focused commercial bank to fund the acquisition. The debt provider had an on-going relationship with AW and provided acquisition financing in the past.
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 $5 billion over the last several years.
AW Property Co.
Headquartered in Palm Beach Gardens, AW is a real estate investment and operating company that focuses on professional office and medical properties in major markets throughout the State of Florida. Founded in 2002, AW currently has a staff of 15 professionals and operates 20 buildings comprising 1.5 million square feet of commercial space in specific target markets. AW’s professionals have a wide array of industry experience, with expertise in all facets of real estate acquisitions, redevelopment, finance, operations and asset management.
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