The off-market transaction closed May 27th, 2022.
Portland, ME (May 27, 2022) Vitalis advised Remedy Medical Properties on the acquisition of a 76,672-square-foot medical campus located at 100 Foden Rd in South Portland, ME. Remedy purchased the asset for $29,750,000 from a local investor.
The property consists of two medical office buildings 95% leased to two clinical tenants. 80% of the campus is occupied by and leased long-term to InterMed, a leading physician owned medical group in the Maine. Services at this location include Audiology, Radiology, Diagnostic imaging, PT, Cardiology, Dermatology, Ear Nose & Throat, OB/GYN, and Sports Medicine.
“Intermed is Maine’s largest physician-owned primary care practice and has shown continued commitment to this campus through expansions, early renewals, and cap-ex investments.”says Vitalis’ Heather Haley who sourced the deal.
The Vitalis team has closed transactions in Texas, South Carolina, Florida, Massachusetts, Wisconsin, Pennsylvania, Illinois, Michigan, Alabama and has deals under contract in the Northeast and Midwest set to close in Q3 of 2022. Year to date deal volume exceeds $125M.
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About Vitalis:
Elliot LaBreche is the founder of Vitalis, a vertically integrated real estate investment company focused on medical office and life science investment sales, acquisitions, and leasing across the US. For more information visit www.vitalisproperties.com
About Remedy Medical Properties:
Remedy Medical Properties is a full-service healthcare real estate company and the largest owner of healthcare properties in the country, with more than 26 million square feet and 24 offices spanning 42 states. For healthcare decision-makers who want to maximize the value of their real estate while enhancing their ability to adapt, our national presence enables us to offer the right solutions in the right locations for your organization. Remedy offers unmatched flexibility in every client engagement, and our adaptability enables us to provide more options in ownership, development, leasing, management, and strategy. Our willingness to commit capital, share more risk, and offer greater foresight results in greater resilience, profitability, and peace of mind for our clients. For more information visit www.RemedyMed.com
Media Contact: Abigail Kind, 802.881.9278
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