40-Day Quick Close Transaction Sold in a 1031 Exchange
Bentonville, AR, June 13, 2022 – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, recently brokered the $7,750,000 sale of Pain Treatment Centers of America, a surgery center located at 2902 Mid-Cities Drive, Bentonville, AR. The off-market transaction was completed in just over 40 days. First Vice President and Senior Director Michael Moreno, Vice President and Senior Director Rahul Chhajed, and Associate Daniel Solomon represented the buyer in the transaction.
The Pain Treatment Centers of America property is a new construction build with a long lease term, sold in a 1031 Exchange. The deal provided guaranteed income for approximately two times the term remaining in the owner’s downleg, increasing the acquisition’s desirability.
“This transaction emphasizes the importance of building strong relationships and connections in the industry. We were able to source this deal off-market from the developer who was looking to lock in a buyer,” said Solomon.
The seller was looking to secure a low leverage West Coast-based buyer to receive a high cash flow deal with a long-term lease.
“The process of a 1031 Exchange can be tricky, but we did not let this disrupt our momentum. We focused on time management and provided ample time for the buyer to complete their due diligence and close on the listing,” said Moreno.
“The key to success in this transaction was working diligently for our client and utilizing our healthcare expertise to close quickly with a qualified buyer,” said Chhajed.
For more information, or to contact Michael Moreno, Rahul Chhajed, or Daniel Solomon, please visit www.matthews.com.
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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