Agents Secured Multiple Offers, Closing with Institutional Buyer
Louisville, KY (May 31, 2022) — Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, recently completed the sale of The Eye Care Institute, an ophthalmologist clinic located at 1536 Story Ave, to an institutional healthcare buyer. Matthews™ Healthcare Division brokered the transaction, closing at $6.5 million.
Matthews™ represented the seller who was able to lock in the deal prior to an interest rate hike. The agents received multiple offers from competing groups and ultimately landed on an institutional buyer in the healthcare industry. Due to a smooth and efficient transaction process, the deal closed in just six weeks.
“We sourced the buyer quickly and effectively, hitting a contractual close date without extensions,” Matthews™ said. “The buyer was looking to continue building their portfolio of medical buildings.”
The seller’s motivation in this sale was to reallocate capital into other investments. As a result of the COVID-19 pandemic, healthcare has been a dominant player in commercial real estate. There have been trends both institutionally and in private markets in the healthcare sector, where investors have been choosing to lease out retail space in turn for medical facilities.
“We have seen increasing numbers in existing owners looking at the demand in the healthcare industry, which as a result, has compressed cap rates, and made selling more appealing. Healthcare properties saw increasing numbers and outperformed many other asset classes during the pandemic,” Matthews™ said.
For more information or to contact the Matthews™ Healthcare Division, please visit www.matthews.com.
About Matthews™
Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 14 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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