For Sale: The Ciminelli Outpatient Collection


Newmark Healthcare Capital Markets is exclusively engaged with respect to two healthcare offerings totaling 348,011 square feet in Western New York. The Ciminelli Outpatient Collection, which consists of the UBMD ASC & MOB and the Park Club Lane Portfolio, provides investors with the opportunity to acquire premier medical office buildings and development projects situated in two of the most sought-after locations in the Greater Buffalo MSA. Both offer investors an attractive developer partnership opportunity with the preeminent developer in the market.

UBMD ASC & MOB (“Project”) is a 158,563 rentable square foot, build-to-suit surgery center and medical office building development project in Amherst, New York. The Project is 93.2% preleased to several of the largest providers in the region, including affiliates of UBMD (University of Buffalo) Orthopaedic, Kaleida Health, UBMD Radiology, UBMD Surgery and Erie County Medical Center. The service lines are orthopaedic and sports medicine in focus, and include an ambulatory surgery center, imaging center and several specialty practice groups.

UBMD ASC & MOB Highlights
• New Construction, Class A MOB Development, Led by Ciminelli, a Medical Office Developer with a 35-Year Track Record
• Stable Cash Flow from Long-Term Leases (20-YR WALT)
• Premier Tenant Roster with Attractive Service Mix including an Ambulatory Surgery Center, which is governed by the State of New York’s Certificate of Need
• Best-In-Class Location with Strong Underlying
Market Demographics
• Long-Term Tenant Commitment Demonstrated by Significant Tenant Investment ($85 to $270 PSF) in Excess of the Allowance Provided by the Developer

The Park Club Lane (“Portfolio”) features two existing buildings, both 100% leased, as well as a build-to-suit development project. The Portfolio includes a 30,791 square foot medical office building and a 30,278 square foot, build-to-suit project, both 100% leased for 15 years to Roswell Park Comprehensive Cancer Institute, one of the nation’s leading cancer research institutions. Also included is a 128,379 square foot office building which is 100% leased to Univera Healthcare, part of The Lifetime Healthcare Companies, a family of companies providing health insurance to 1.5 million people in State of New York.

Park Club Lane Portfolio Highlights
• Secure, Long-Term Cash Flow (15-YR WALT for Roswell Park Properties) with Additional Upside Through Future Development Opportunities
• Class A Build-to-Suit Medical Office Opportunity
• Anchored by Roswell Park, the Region’s Premier Cancer Research Institution – Several of Roswell Park’s Uses are Governed by the State of New York’s Certificate of Need

The Ciminelli Collection is being offered to qualified investors on an individual basis or as a portfolio on a date-certain bid deadline to be announced during the marketing process. All questions should be addressed to the Newmark team concerning the terms of the offering.

Jay Miele
Senior Managing Director
t (732) 778.3895

Michael Greeley
Senior Managing Director
t (617) 223.1623

John Nero
Managing Director
t (610) 308.8192

Adam Goss
t (713) 444.1024

Ben Appel
Executive Managing Director
t (215) 872.9903

Ron Ott
t (570) 417.8140

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