CMC Mint Hill Medical Plaza in Mint Hill, N.C., is 100 percent leased by affiliates of Carolinas HealthCare System. (Photo courtesy of Rodgers Builders)
Transaction Overview
Healthcare Real Estate Capital (“HRE Capital”) was selected as the exclusive financial advisor to Harrison Street Real Estate Capital LLC (“HSRE”) related to the disposition of a 57,580 square foot medical office building known as CMC Mint Hill Medical Plaza (“Asset”), which is located in Mint Hill, North Carolina. The Asset is 100% leased by affiliates of Carolinas HealthCare System, which enjoys an investment-grade credit rating of “AA-” from Standard & Poor’s and is one of the nation’s largest non-profit health systems. Constructed in 2007 by Carolinas HealthCare System, the Asset offers a diverse range of services and administrative functions combined with Class-A medical design and functionality.
HRE Capital’s Role
On behalf of HSRE, HRE Capital undertook an effort to select a well-capitalized investor (“Investor”) positioned to acquire the Asset subject to existing lease terms. Leveraging its unmatched relationships in the healthcare real estate capital markets and significant network of domestic and international investors, the Asset garnered significant interest from a number of well-capitalized Investors. Due to HRE Capital’s successful track record, the quality of the Asset and strength of the anchor tenant, the transaction achieved HSRE’s various 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’s senior management team has been involved with over $9 billion in healthcare real estate transactions.
Harrison Street Real Estate Capital
Harrison Street Real Estate Capital is a leading real estate investment management firm that offers innovative investment products across both private and public real estate segments. The firm has created a series of differentiated investment products across multiple risk/return platforms. HSRE’s team is headquartered in Chicago, Illinois. The firm and its affiliates have approximately $11.5 billion in assets under management, including property assets and publicly traded securities, on behalf of some of the world’s largest institutional investors. For more information, please visit www.harrisonst.com.
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