The Offering
CBRE’s U.S. Healthcare Capital Markets Group is pleased to exclusively offer the opportunity to acquire the EvergreenHealth | Lakeshore Clinic Medical Office Portfolio (the “Portfolio”). The Portfolio consists of two Class-A medical office buildings that are located in Kirkland and Bothell, Washington. The two buildings are 100% occupied by Lakeshore Clinic and will be master leased by EvergreenHealth with new 12-year lease terms and 3% annual rent escalations that will commence upon the sale of the Portfolio. EvergreenHealth is acquiring the Lakeshore Clinic physician practice and currently maintains an ‘Aa3’ investment grade credit rating by Moody’s.
Investment Highlights
- 100% Leased For New 12-Year Lease Term
- Investment Grade Tenancy
- NNN Lease Structure
- Proximity to EvergreenHealth Medical Center
- Easily Accessible, High Traffic Locations
- Outstanding Demographics
- “Recession Resistant” Asset Category
- Delivered Free and Clear of Existing Debt
- 4% Management Fee
| Price | $13,639,000 |
| Cap Rate | 6.50% |
| Square Feet | 31,084 RSF |
| Percent Leased | 100% |
| Lease Term | 12-Year Initial Term |
| Rent Escalation | 3% Annually |
| Ownership | Fee Simple |
| In-Place NOI | $886,550 |
Contact Information
CBRE U.S. Healthcare Capital Markets Group
Chris Bodnar
Executive Vice President
+1 303 628 1711
chris.bodnar@cbre.com
Lee Asher
Executive Vice President
+1 404 504 5965
lee.asher@cbre.com
Ryan Lindsley
Senior Director
+1 303 628 1745
ryan.lindsley@cbre.com
CBRE Puget Sound Healthcare Properties Team
Steven Perovich
Senior Vice President
+1 206 292 6059
steven.perovich@cbre.com
Marcus Yamamoto
Vice President
+1 206 292 6062
marcus.yamamoto@cbre.com
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