August 13, 2021 – IRA Capital (“IRA”) is pleased to announce the acquisition of a multi-specialty ambulatory surgery center (“ASC”) comprising 11,200 square feet in Wauwatosa, Wisconsin (“the Property”). The Property is 100% occupied by Wauwatosa Surgery Center, a partner of Surgical Care Affiliates (“SCA”). The Property has functioned as Wauwatosa Surgery Center’s exclusive location for over 30 years and provides various comprehensive outpatient services including anesthesiology, general surgery, and orthopedic surgery among many others. IRA acquired the property through a sale-leaseback that was structured with Surgical Care Affiliates and the physician owners of the Property.
The surgery center has four highly specialized operating rooms, multiple pre-op and post-op recovery areas, and patient suites that allow for overnight stay. The facility is strategically positioned a couple miles from Milwaukee Regional Medical Center, home to Milwaukee’s largest hospitals including Freodtert Health’s largest 516-bed hospital and only Level I Adult Trauma Center in the region. The Medical Center is also nationally recognized for having the Children’s Hospital of Wisconsin’s Level 1 Pediatric Trauma Center. The Medical Center also houses the Medical College of Wisconsin, the largest research center in the Milwaukee metropolitan area and the second-largest in Wisconsin.
Wauwatosa Surgery Center is operated by Surgical Care Affiliates, one of the largest providers of outpatient surgery in the United States and an operator of 230 ambulatory surgery centers in 35 states. Surgical Care Affiliates performs over 1 million procedures a year in partnership with approximately 3,500 physicians and 10,000 teammates. SCA was recently recognized by Newsweek as a national leader in ambulatory surgical care and has previously been recognized by Becker’s ASC Review as a “Best Place to Work in Healthcare”.
IRA’s medical office strategy has included the acquisition of both single and multi-specialty ambulatory surgery centers across the country. IRA recently acquired four other surgery centers in the last 30 days. According to IRA partner and co-founder Samir Patel, “this transaction was of interest to IRA for various reasons, including the facility’s close proximity to Milwaukee Regional Medical Center and the long-standing track record and strong performance of the surgery center.” IRA partner and co-founder Amer Kasm additionally notes, “Wauwatosa Surgery Center is a great addition to our existing portfolio in the Milwaukee MSA, and the existing relationship between IRA Capital and SCA also played a key factor in our acquisition especially as we continue to expand our portfolio of SCA-owned and operated properties.”
About IRA Capital
IRA Capital is a Southern-California based private equity firm founded in 2010 that invests capital for its own account and on behalf of its co-investment partners, which include pension funds, institutions, family offices, and individuals. IRA invests in commercial real estate assets throughout the United States, with a primary focus on the medical/healthcare real estate sector. Headquartered in Irvine California, IRA has acquired over six million square feet of property across 30 states, valued in excess of $2.5 Billion. For more information, please visit: http://www.iraCapital.com
For media inquiries, please contact: Kyle Zimmerman + 1 949 204 5386 kzimmerman@iracapital.com
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