Acquisition in high-growth markets further bolsters Alliance’s $50 million healthcare real estate investment fund
CHICAGO (Oct. 20, 2022) — Alliance Consolidated Group of Companies (Alliance) today announced it has acquired a portfolio of four net-leased medical office buildings in central Florida. The properties, which total 25,483 square feet and are all operated by Florida Dermatology and Skin Cancer Centers, are located at:
- 1450 6th St. SE, Winter Haven, Fla.
- 421 Linden Lane, Lake Wales, Fla.
- 927 U.S. Highway 41 South, Inverness, Fla.
- 6020 Park Blvd., Pinellas Park, Fla.
Alliance purchased the properties from Florida Dermatology and Skin Cancer Centers as part of a sale-leaseback. The $8.6 million acquisition is the second made by Alliance Medical Fund I, a $50 million equity investment vehicle that launched earlier this year to acquire net-leased medical and veterinary properties in high-growth markets across the U.S.
“Drawing on decades of net-lease experience, Alliance attained the four top-performing locations of this market-leading tenant, allowing us to realize economies of scale in a growing area of central Florida,” said Ben Reinberg, founder and CEO of Alliance. “With an average of 237 days of sunshine each year, and the highest percentage of senior citizens in the U.S., Florida has exceptionally strong demand for dermatology services. Providers are unlocking the value of their real estate by selling to investors like Alliance and subsequently entering into a long-term lease – a structure that allows them to maintain control over their facility while remaining accessible to patients and staff.”
Florida Dermatology and Skin Care Centers is a comprehensive dermatological center that specializes in general dermatology, cosmetic dermatology and skin cancer treatments. The practice, comprising 14 practitioners and 12 locations throughout Florida, has expanded in recent years to meet the growing demands of the Florida dermatology market.
The field of dermatology is positioned for sustained growth, with a global market size of $1.1 billion and a compound annual growth rate (CAGR) of 6.9% through 2030, according to recent findings by Emergen Research. Driving factors for market growth include rising awareness of skin health and cosmetic procedures, increasing prevalence of skin diseases and a growing elderly population, with many concentrated in Sun Belt states like Florida.
Founded in 1995, Alliance specializes in net-leased healthcare real estate, with a portfolio spanning more than 10 states across the U.S. All assets are operated by Alliance’s in-house management team.
Alliance Medical Fund I is expected to invest approximately $150 million in debt and equity over the next two years, prioritizing investments across the Sun Belt. Accredited investors can learn more by contacting Ben Reinberg atbreinberg@alliancecgc.com or (847) 317-0077.
About Alliance Consolidated Group of Companies:
Alliance Consolidated Group of Companies is a real estate investment firm that specializes in net-leased medical buildings. Founded in 1995, the firm targets a variety of healthcare facilities around the country. Alliance delivers attractive, risk-adjusted returns by leveraging longstanding relationships with lenders, brokers and investors to identify the best opportunities in each market and facilitate a quick close. Additional value is created post-acquisition through professional property management services provided in-house. For more information, visit http://www.alliancecgc.com/.
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