News Release: Five-Property Medical Office Portfolio Sold by Matthews™

Portfolio Located Throughout Kansas City MSA, Feature Long-Term Eyecare Tenants

Kansas City, KS, May 9, 2023 — Matthews Real Estate Investment Services, a commercial real estate investment services and technology firm, handled the sale of a portfolio of quality healthcare assets located throughout the Kansas City MSA. The Sabates Eye Centers Portfolio features five well-established medical office buildings, with 13 suites totaling 76,826 square feet. First Vice Presidents and Senior Directors Rahul Chhajed and Michael Moreno represented the seller in the transaction.

Matthews™ had an existing relationship with the seller, who was disposing of the assets to capitalize on the portfolio’s increased value created from a recent M&A deal. All five medical offices feature NNN leases with long-term tenants. In total, the portfolio boats a 90 percent occupancy rate.

“This deal took place in a historically volatile lending environment, but we were able to get this deal across the finish line,” said Moreno. “By utilizing our network of investors, we sourced a credible buyer and helped our client exit a management-intensive investment for a profitable price.”

The buyer is a private family office based out of Ohio. The medical office buildings (MOB) are in the submarkets of Leawood, Independence, and Northland, all within the Kansas City MSA.

“The buyer acquired a high-yielding collection of MOBs in growing submarkets, making for a solid investment,” said Chhajed. “The buildings were well maintained, priced near replacement costs, and had leases at modest rental rates compared to the surrounding market. The buyers plan to increase returns over the long-term through strategic lease and property management and add to their existing portfolio of MOBs.” For more information or to contact agents, please visit www.matthews.com.

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 500 agents and support staff in 15+ 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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