MedDevelopment
Sale of an on-campus portfolio including two medical office buildings totaling 1 08,094 square feet and a 579-space parking garage located in Phoenixville, Pennsylvania
THE UNDERSIGNED SERVED AS EXCLUSIVE FINANCIAL ADVISOR
HRE Capital
Transaction Overview
Healthcare Real Estate Capital (“HRE Capital”) served as the exclusive financial advisor related to the disposition of an on-campus portfolio that included two medical office buildings (“MOBs”) totaling 108,094 square feet and a 579-space parking garage (collectively the ‘”Portfolio”).
The 99% occupied Portfolio is located on the campus of Tower Health’s (“Tower”) 144-bed Phoenixville Hospital, which is approximately 25 miles northwest of downtown Philadelphia. Anchored by Tower, which util izes a majority of the space for clinical services, including a cancer center, the MOBs’ tenants also include Penn Medicine, the dominant non-profit health system in the region, and the headquarters of PMA Medical Specialists, a large regional multi-specialty physician practice.
HRE Capital’s Role
On behalf Of MedDevelopment (“MedDev”), HRE Capital undertook a selective marketing effort to identify a well- capitalized investor (“Investor”) positioned to acquire the Portfolio within a specific timeframe and at a defined price. Due to HRE Capital’s successful track record navigating complicated transactions and its relationship with the selected Investor, MedDev achieved its various goals related to timing and pricing while identifying a capital partner for potential future development and acquisition opportunities.
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