09 August
Alabama Swaid Vestavia Medical Center Sold to Dallas-Based Investor
Birmingham, AL— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the $27 million sale of Swaid Vestavia Medical Center, a multi-specialty medical facility located at 1021 Montgomery Highway, Vestavia Hills, AL. The new construction facility spans 40,000 square feet and consists of an ambulatory surgery center and medical office space.
Matthews™ Healthcare Division’s First Vice Presidents & Senior Directors sourced the buyer, an institutional healthcare real estate fund based out of Dallas, TX. The multi-specialty medical office building was a great fit for the buyer, as it fits strategically with their goal of constructing a portfolio of mission-critical assets located in high barriers to entry markets. Alabama being a CON (Certificate of Need) state was also a desirable characteristic. Matthews™ leveraged its existing relationship with the buyer to provide the seller with an offer and a smooth closing process. The end result was notable, as the property transacted at $679 per square foot and helped the seller achieve their goal of monetizing the building in a high-demand market.
“Specialization in healthcare real estate and having a pulse on who’s actively transacting gave us the ability to sell the asset for an owner after a few months of their independent efforts,” said Matthews™.
Swaid Vestavia Medical Center consists of the Surgical Institute of Alabama, Vestavia Diagnostics, Swaid Clinic, Bramlett Orthopedics, Birmingham Vascular Associates, Pain Management Services, Lab First, and Champion Physical Therapy.
Over the past 18 months, Matthews™ Healthcare Division has sold over 200 medical facilities across the country, totaling over $1.35 billion in sales volume.
For more information or to contact the Matthews™ Healthcare Division, please visit https://www.matthews.com/services/investment-sales/healthcare/.
About Matthews™
Matthews Real Estate Investments 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. Based out of Nashville, TN, and strategically positioned with over 400 agents and support staff in 14 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
PRESS CONTACT
Kaylee Stock
(701) 429-7462
Kaylee.stock@matthews.com
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