H2C Securities Inc. (“H2C”), a healthcare-focused strategic advisory firm, served as advisor to Summit Development LLC (“Ownership”) on the monetization of The Medical Offices at Chappaqua Crossing (the “Property”).
In a transaction led by H2C Executive Director Matthew Tarpley, the Property sold for $40.0 Million.
The ±490,000-square foot Property, which originally served as the Global Headquarters for Reader’s Digest, had been redeveloped to majority-medical office use as part of a larger mixed-use repositioning of a 114-acre campus since Ownership’s acquisition in 2004. The Property, which is anchored by Northern Westchester Hospital [Northwell Health] and CareMount Medical, features 12 additional tenants and is located directly off the Saw Mill River Parkway in the Hamlet of Chappaqua.
“It was important to secure an investor who would appreciate the value that had been created by Ownership and the campus as a whole, while understanding the unique qualities of the asset and its location that would position the asset for long-term value appreciation,” said Matthew Tarpley Email Matthew .
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About H2C Securities Inc. (“H2C”)
H2C is a strategic advisory and investment banking firm committed to providing superior advice to public and private healthcare and higher education institutions and related organizations throughout the United States. H2C’s professionals have a long track record of success in mergers and acquisitions, capital markets, and real estate transactions, acting as lead advisors on hundreds of transactions representing billions of dollars in value.
Securities and services offered through H2C Securities Inc., member FINRA / SIPC a registered broker-dealer and an indirect subsidiary of Fifth Third Bank, National Association. All rights reserved. Securities and services offered through H2C Securities Inc.: Are Not FDIC Insured; Offer No Bank Guarantee; May Lose Value; Are Not Insured by any Federal Government Agency; Are Not a Deposit.
For more information, visit h2c.com.
About Fifth Third Capital Markets
Fifth Third Capital Markets is the marketing name under which Fifth Third Bank, National Association, and/or its subsidiaries, H2C Securities Inc. and Fifth Third Securities, Inc., provide certain securities and investment banking products and services. Fifth Third Capital Markets offers investment banking+++, debt capital markets+, bond capital markets++, equity capital markets++, financial risk management+, and fixed income sales and trading++. Fifth Third Bank, National Association provides access to investments and investment services through various subsidiaries, including Fifth Third Securities and H2C Securities Inc. Coker Capital is a division of Fifth Third Securities. Fifth Third Securities is the trade name used by Fifth Third Securities, Inc., member FINRA/SIPC, a registered broker-dealer and registered investment advisor registered with the U.S. Securities and Exchange Commission (SEC). H2C Securities Inc., member FINRA/SIPC, is a registered broker-dealer with the (SEC) and an indirect subsidiary of Fifth Third Bank, National Association. Registration does not imply a certain level of skill or training. All rights reserved. Securities and investments offered through Fifth Third Securities, Inc. and/or H2C Securities Inc.:
• Are Not FDIC Insured
• Offer No Bank Guarantee
• May Lose Value
• Are Not Insured By Any Federal Government Agency
• Are Not A Deposit
+ Services and activities offered through Fifth Third Bank, National Association.
++ Services and activities offered through Fifth Third Securities, Inc.
+++ Services and activities offered through Fifth Third Securities, Inc. and/or H2C Securities Inc.
For more information, visit: 53.com/capitalmarkets
Credit and lending products are offered by Fifth Third Bank, National Association. Credit products are subject to credit review and approval and mutually acceptable documentation.
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