Sold: Physician-Owned Hospital & MOB | Springfield, OH
HREA | Healthcare Real Estate Advisors is pleased to announce the real estate sale of the award-winning Ohio Valley Surgical Hospital (OVSH) and adjacent 3-story medical office building, located in Springfield, Ohio (Portfolio).
Ohio Valley Surgical Hospital is conveniently located in downtown Springfield, OH, approximately 25 miles northeast of Dayton, 44 miles west of Columbus, and 73 miles northeast of Cincinnati. Within the Hospital’s primary and secondary service areas, there are more than 1,000,000 people that reside within a 60-minute drive. OVSH is also the only hospital in the Dayton/Springfield region to earn a top 5-Star rating from the Centers for Medicare & Medicaid Services.
OVSH offers a wide range of programs and services from inpatient and outpatient surgical care, sports medicine, patient and health care provider education, laboratory services, diagnostic imaging, and pre-surgical testing.
Certified by the Centers for Medicare and Medicaid and fully accredited by the Join Commission, the physicians of OVSH offer elective-based inpatient and outpatient surgical procedures across an array of specialties, including ENT, Gastroenterology, Gynecological, General Surgery, Gynecology, Ophthalmology, Orthopedic Surgery, including total joint replacement and spine procedures, Interventional Pain Medicine, Plastic Surgery, Podiatry, and Urology.
The Portfolio consisted of a 47,929 square foot multi-specialty physician-owned surgical hospital that is comprised of nine (9) operating rooms, two (2) procedure rooms, and twenty-four (24) private inpatient suites, as well as an adjacent and affiliated 31,384 square foot medical office building. The medical office building houses the clinical office space and provides imaging services, including MRI, CT, Ultrasound, X-Ray, as well as a Breast Center with 3D mammography.
The real estate transaction was structured as a sale-leaseback, enabling the physicians to take advantage of historically high valuations but also provide the physicians with long-term control through multiple lease extension options, as well as the option to expand the hospital’s size and footprint.
Earlier this year, OVSH announced that it partnered with Dayton-based Premier Health and Columbus-based OhioHealth as part of an ongoing commitment to expand access to care in Clark County. As part of the unique arrangement, the two health systems formed a joint venture that joined 35 physicians in sharing ownership of the multi-specialty hospital.
“As a patient-focused and physician-directed hospital, Ohio Valley provides exceptional surgical and medical care to their patients, in an environment of personalized service,” said Christopher Stai, Managing Director of HREA. “The transaction was also designed to accommodate growth and expansion into other service lines, enabling the hospital to continue to offer a superior patient experience and high quality care.
HREA | HEALTHCARE REAL ESTATE ADVISORS is a national leader in advising healthcare providers and real estate owners with various monetization strategies, including disposition, debt & equity recapitalization, and tax-deferred structures, such as the Hybrid Sale-Leaseback®, §1031 Exchange, and UPREIT.
HREA’s capabilities also include providing health systems and physician groups with 100% nonrecourse financing for new development and expansion, as well as monetizing surplus and non-essential real estate assets.
The founders of HREA have completed over $4 billion of healthcare real estate sale transactions in nearly every state in the U.S. With an exclusive focus on healthcare real estate, HREA has a unique perspective of this rapidly evolving industry that provides solutions customized to each client’s goals and objectives.
CHRISTOPHER L. STAI, CPA
CA Broker License #: 01836740
NC Broker License #: 337848
MICHAEL ALTIERI, CCIM
RYAN V. MICHAELS
San Diego, CA
JANTZEN B. GONGON
Director of Marketing
San Diego, CA
HREA | Healthcare Real Estate Advisors , Raleigh, NC 27614
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