News Release: JUST SOLD – Beaumont Medical Center – Rochester Hills, Michigan

Beaumont Medical Center is a 30,600 square foot multi-tenant MOB that is 100% leased to well-established physician-owned practice groups and Beaumont Health System. (Photo courtesy of Brown Gibbons Lang Real Estate Partners)

Beaumont Medical Center is a 30,600 square foot multi-tenant MOB that is 100% leased to well-established physician-owned practice groups and Beaumont Health System. (Photo courtesy of Brown Gibbons Lang Real Estate Partners)

Chicago, Illinois, November 28th, 2016  – Brown Gibbons Lang | Real Estate Partners (“BGLREP”), a division of Brown Gibbons Lang & Company (“BGL”), is pleased to announce the sale of Beaumont Medical Center – Rochester Hills, located in Rochester Hills, Michigan. Christopher Stai and Clinton Parker, Managing Directors of BGLREP’s National Healthcare Real Estate Practice, and Andrew Larwood and Allen Inman, Associate Directors of BGLREP’s National Healthcare Real Estate Practice, served as the exclusive advisors to the seller in the transaction.

Beaumont Medical Center – Rochester Hills (the “Property”) is a 30,600 square foot multi-tenant medical office building that is 100% leased to well-established physician-owned practice groups and Beaumont Health System (“Beaumont Health”). In addition to primary care, OB/GYN, dermatology, and physical therapy, the Property offers higher acuity care in the form of imaging, dialysis, radiology, and minimally invasive surgery. Beaumont Health, which occupies over 40% of the Property, offers a variety of outpatient services to the residents of Rochester Hills and Oakland County.

BGLREP previously represented a separate physician-owned practice in Michigan with the sale of their multi-tenant medical office building and ambulatory surgery center. Located on the campus of Providence Park Hospital in Novi, Michigan, the approximate 65,000 square foot medical office building and outpatient surgery center is a new state-of-the-art, on-campus facility that includes multiple independent ortho-centric practice groups that are affiliated with Ascension Health, the largest non-profit health system in the U.S.

Allen Inman, Associate Director of BGLREP’s National Healthcare Real Estate Group stated, “This marks our second healthcare real estate transaction this year involving Beaumont Health as a major tenant.” Andrew Larwood added “Both properties were acquired by healthcare REITs at exceptional pricing parameters, indicative of each building’s underlying practice groups and health system alignment.”

“Given the continued strong market conditions for investment in healthcare real estate assets that are supported by best-in-class healthcare providers, the results that we are able to deliver for our clients through a discrete and controlled marketing process is remarkable.” said Christopher Stai, Managing Director and co-leader of BGLREP’s National Healthcare Real Estate Group.”

According to Christopher Stai and Clinton Parker, BGLREP has completed a total of 25 sale transactions for a total value of nearly $500 million over the past 12 months, representing and advising owners of healthcare real estate through a variety of transaction structures, including tax-deferred transactions, such as an UPREIT or a §1031 like-kind exchange, as well as an outright sale or equity recapitalization that enables owners to capitalize on current investment demand and historically high valuations while retaining a reduced level of real estate ownership.

About Brown Gibbons Lang | Real Estate Partners
BROWN GIBBONS LANG | Real Estate Partners (BGLREP), a division of Brown Gibbons Lang & Company, is a leading national advisor in healthcare real estate, specializing in providing healthcare real estate owners with tailored transaction strategies, including debt and equity recapitalization, sale-leasebacks, partial sale-leasebacks, tax deferred transactions, such as an UPREIT or a §1031 like-kind exchange, and other nuanced transactions designed to optimize value and flexibility for the client.

About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company is a leading independent investment bank serving the middle market. BGL specializes in mergers and acquisitions advisory services, debt and equity placements, financial restructuring advice, and valuations and fairness opinions, with global industry teams in Business Services, Consumer, Environmental & Industrial Services, Healthcare & Life Sciences, Industrials, and Real Estate. BGL has offices in Chicago, Cleveland, Irvine, and San Antonio, in addition to Global M&A partner offices in more than 50 countries across 5 continents.  BGL is able to deliver to our clients unparalleled access to strategic relationships, investors, and opportunities globally. For more information, please visit www.bglco.com.

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